Canada's economy resumed growing in November, expanding by 0.3% from the month before, thanks mainly to increases in trade, manufacturing and oil and gas extraction.
Statistics Canada reported Friday the monthly growth in Gross Domestic Product matched consensus expectation of economists and follows no growth at all in October and a drop of 0.5% in September
Wholesale and retail trade both grew, with wholesale trade surging by 1.3% after contracting for four months in a row.
Manufacturing output also grew, rising 0.4 per cent in November. Factory output had fallen in both September and October.
Amid all the gloom in the energy sector, Friday morning's GDP report said oil and gas extraction grew by 2.1% in November. Non-conventional oil production rose 3.4% as the industry continued to recover from a big drop in September caused by production difficulties and maintenance shutdowns.
Related Stories
