Economy tops expectations in November as manufacturing stages comeback
OTTAWA — The Canadian economy picked up a bit of steam in November, growing slightly more than expected as the manufacturing sector regained much of the ground it lost the previous month.
Statistics Canada said Tuesday real domestic product grew by 0.4 per cent in November compared with the 0.3 per cent gain that had been anticipated by economists, according to Thomson Reuters.
The result for October was also revised to show the economy shrank by 0.2 per cent compared with an initial reading of a 0.3 per cent contraction.
The rebound in November was broad-based, though analysts took particular note of the strengthening manufacturing sector. It gained 1.4 per cent following an abysmal performance in October that saw a 1.7 per cent decline.