Canada's GDP Inches Up, Led by Retail and Goods Producers

0:00It's March 31st. This is Canada News today, driven by AI. Canada's real GDP inched up 0.1% in January after growing 0.2% in December. That bump came mainly from strong goods, producing industries according to Statistics Canada. Retail trade led the charge with 0.8% growth, powered by general merchandise stores, jumping 3% in motor vehicle, dealers of 2.4%. Goods produces expanded 0.2% for the second straight month, thanks to mining, oil, and gas extraction, construction, and utilities. Offsetting a dip in manufacturing. Services stayed flat overall, with retail and finance gains balancing out drops in wholesale trade and transportation. Nine out of 20 industrial sectors show growth that month. Senior economist Catherine Judge from CIBC Capital Markets called it a solid start, beating expectations despite weather-hitting transport and real.

1:01As state, she noted good strength masks some weaknesses. Advanced status shows February GDP rose 0.2%, keeping first quarter growth on track with the Bank of Canada's forecast of just under. 2% annualized, momentum's building steady.