Statistics Canada says economic growth slowed in January in a snapshot of the economy before the novel coronavirus outbreak hit home.
READ MORE: Counterfeit Chinese-made face masks pulled offline after Global News probe
The agency says real gross domestic product grew 0.1 per cent in the first month of 2020 compared with an advance of 0.3 per cent in December. The result for January matched the expectations of economists, according to financial markets data firm Refinitiv.
- Peter Pocklington’s former mansion on City of Edmonton’s auction list: ‘It’s iconic’
- Alberta predicting 2026 budget surplus thanks to oil prices, Middle East war
- Calgary Chamber says trade negotiations ‘a tipping point’ in relationship with U.S.
- ‘Not suitable’: Utilities commission rejects power plant for Olds, Alta., data centre
Statistics Canada says reduced trade with China and advisories against non-essential travel to the country affected potential growth in January. Since then, the agency says, the pandemic and a collapse in oil prices has significantly affected the economy.
READ MORE: EI for COVID-19? What we know so far about the new emergency response benefit
In January, manufacturing rose 0.8 per cent as both durable and non-durable manufacturing increased. The finance and insurance sector increased 0.9 per cent. The transportation and warehousing sector fell 1.7 per cent in January.
Comments
Want to discuss? Please read our Commenting Policy first.