FIN: Canada’s economy grows for first time in three months as factories rebound
Canada’s gross domestic product expanded for the first time in three months in November on a manufacturing and wholesaling rebound, a sign the economy is shaking off the damage from a drop in commodity prices.
Output expanded 0.3 per cent to an annualized $1.65 trillion, Statistics Canada said Friday in Ottawa, matching the median forecast in a Bloomberg economist survey. Production had stalled in October and shrank 0.5 per cent in September.
Wholesaling rose by 1.3 per cent, the biggest gain in a year, and retail sales increased 1.2 per cent. Factory production rose 0.4 per cent with the first gain in three months led by durable goods such as wood and electrical products.
