Canada GDP grew 0.1% mom in December, matched expectations, following 0.8% mom rise in November. That’s the eighth consecutive monthly increase. Still total economic activity was about -3% below February’s pre-pandemic level. Goods-producing industries were up 0.6% mom while services-producing industries edged down -0.1% mom. 12 of 20 industrial sectors grew in the month.
At the same time, advanced information indicates an approximate 0.5% mom increase in real GDP in January. The wholesale trade, manufacturing and construction sectors led the increase while retail trade declined.
