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.
