Statistics Canada says economy grew 0.7% in November
Posted January 29, 2021 5:36 am.
Last Updated January 29, 2021 5:59 am.
OTTAWA — Statistics Canada says the economy grew 0.7 per cent in November.
The gains in November was the seventh straight month of gains after steep drops in March and April.
It also came with the backdrop of positive news about vaccines.
The agency also says its preliminary estimate for December shows growth of 0.3 per cent, even as much of the country headed into heavy restrictions to slow the spread of COVID-19.
Related article: Economy grew 0.4 per cent in October
The preliminary estimate for the fourth quarter shows an annualized growth rate of 7.8 per cent.
For the full year, Statistic Canada’s preliminary estimate shows the economy contracted by 5.1 per cent.
