GDP up 0.5% in January

Canada's economy expanded more than expected in January, easing concerns over the country’s economic outlook, official data showed on Monday.

In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.5% in January, above expectations for growth of 0.4%. The agency said Canada’s economy shrank by 0.5% in December.

Canada’s GDP expanded at an annualized rate of 2.5% in January, following growth of 2.4% in the preceding month.

Related Stories

• Gordie Howe Bridge Between The U.S. And Canada Opens

• Trump Threatens Canada With 50% Tariffs

• Canada’s Inflation Rate Fell To 2.8% In June

• Bank Of Canada Expected To Hold Interest Rates Steady

• Canada’s Unemployment Rate Fell To 6.5% In June