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Statistics Canada says economy grew 0.2 per cent in January

The Canadian Press
Statistics Canada says economy grew 0.2 per cent in January

OTTAWA—Statistics Canada says real gross domestic product grew 0.2 per cent in January, a month marked by restrictions due to a surge in COVID-19 cases.

Goods-producing industries drove gains in January, with the agency noting the construction sector grew for the third time in four months and the largest monthly gain in wholesale trade since July 2020.

The same couldn’t be said for the service sector that as a whole registered zero growth in January.

Accommodation and food services, and the arts, entertainment and recreation sector each saw their largest monthly declines since the first wave of the COVID-19 pandemic in April 2020.

The agency also says its initial estimate suggests the economy grew 0.8 per cent in February, saying that many of the sectors down in January rebounded a month later.

Statistics Canada will finalize the February figure at the end of April.

© 2022 The Canadian Press

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