Statistics Canada announced on Tuesday that the country's gross domestic product (GDP) edged up 0.1 percent m-o-m in January 2020, following a 0.3 percent advance in December 2019. That was in line with economists' forecast for a 0.1 percent m-o-m gain.

According to the report, 16 of 26 all sectors recorded gains in January. Manufacturing rose 0.8 percent m-o-m in January, as both durable (+0.1 percent m-o-m) and non-durable (1.7 percent m-o-m) manufacturing increased, while the finance and insurance sector expanded 0.9 percent m-o-m and the wholesale trade sector surged 1.2 percent m-o-m. At the same time, the transportation and warehousing sector decreased 1.7 percent m-o-m in January, the mining, quarrying, and oil and gas extraction sector fell 0.6 percent m-o-m and the retail trade declined 0.4 percent m-o-m.

In y-o-y terms, the Canadian GDP rose 1.8 percent in January.