• Canadian GDP in line with expectations in December

Market news

2 March 2017

Canadian GDP in line with expectations in December

Gross domestic product (GDP) grew 0.3% in December. With the exception of October, GDP has increased every month since June. Utilities, construction and wholesale trade were the main contributors to growth in December.

Goods-producing industries rose for the sixth time in seven months, up 0.5% in December. Service-producing industries were up 0.2%, as the majority of sectors grew.

After three consecutive monthly declines, the utilities sector grew 3.4% in December. Electric power generation, transmission and distribution (+3.3%) and natural gas distribution (+7.3%) both rose as seasonal weather returned across the country in December. In November, unusually warm weather led to lower demand for heating.

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