The gains in November was the seventh straight month of gains after steep drops in March and April.
It also came with the backdrop of positive news about vaccines.
READ MORE: IMF slashes Canada’s economic outlook, but boosts global growth forecast for 2021
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
The agency also says its preliminary estimate for December shows growth of 0.3 per cent, even as much of the country headed into heavy restrictions to slow the spread of COVID-19.
- 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
- Curaleaf looks to buy Aurora Cannabis, takes bid directly to shareholders
- Mortgage renewals mean housing takes up 50% of many Canadians’ budgets
The preliminary estimate for the fourth quarter shows an annualized growth rate of 7.8 per cent.
For the full year, Statistic Canada’s preliminary estimate shows the economy contracted by 5.1 per cent.
Comments
Want to discuss? Please read our Commenting Policy first.