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January GDP rises more than expected in January thanks to gains in the energy sector

January GDP rises more than expected in January thanks to gains in the energy sector

Statistics Canada reported a 0.6% increase in the January's real GDP, a fourth consecutive monthly increase:

  • Oil and gas extraction grew (+1.4%) for the fourth consecutive month in January, mainly as a result of growth in non-conventional oil extraction.
  • The conventional oil and gas extraction industry also increased in January, which contributed to a 2.3% expansion in energy services such as drilling.
  • Manufacturing also had a good month, expanding 1.9% in January.
  • In contrast, the mining sector (excluding the oil sands) contracted 1.1% in January.

Canada's GDP is now tracking at 1.5% year/year, much better than the 1.1% analysts were previously expecting.

Transcanada faces one last hurdle - at least for now

Transcanada faces one last hurdle - at least for now

Falling oil prices drag industrial and raw materials prices lower than expected

Falling oil prices drag industrial and raw materials prices lower than expected

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