OTTAWA – It was a positive start to the year for the Canadian economy, with Statistics Canada saying real gross domestic product grew 0.7 per cent in January.
This comes after a 0.1 per cent growth in real gross domestic product the month prior and marked the ninth consecutive monthly increase since the COVID-19 pandemic first forced major economic shutdowns in March and April of 2020.
“However, total economic activity was about 3% below the February level before the COVID-19 pandemic,” Statistics Canada writes.
#Breaking A positive start to the year for the economy.
Canada January GDP gains 0.7%m/m (est. up 0.5%)
GDP down 2.3% y/y (est. down 2.6%)
Feb. flash estimate up 0.5%
Source: Stats Canada
— mike eppel (@eppman) March 31, 2021
The January growth also topped the agency’s preliminary estimate for the month of 0.5 per cent.
Statistics Canada’s preliminary estimate for February this year shows growth of 0.5 per cent for the month.
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