Canada’s economy grew 0.4% in November: Stats Canada

OTTAWA – Statistics Canada says real domestic product grew by 0.4 per cent in November, slightly above expectations.

The improvement was due to strength in a broad number of sectors including manufacturing, finance, insurance, construction, and mining, quarrying and oil and gas extraction.

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Economists had expected a 0.3 per cent gain for November, according to Thomson Reuters.

Statistics Canada also revised its result for October, saying the economy shrank that month by 0.2 per cent.

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That compared with an initial reading of a contraction of 0.3 per cent.

For November, Statistics Canada says goods-producing industries rose 0.9 per cent, while service-producing industries grew by 0.2 per cent.