World Economic outlook - Canadian GDP growth in January 2012 : Canada's national economic output expanded in January, although at a slower pace than the month before. Statistics Canada says gross domestic product grew by 0.1 per cent in January after a 0.5 per cent jump the month before.
The manufacturing sector expanded for the fifth consecutive month, growing by 0.7 per cent. The total output from the sector has grown to nearly $170 billion dollars per month from a recession low of around $147 billion.
Increases were also seen in finance and insurance, wholesale trade, tourism, and the public sector.
Pulling down growth was a contraction in the oil and gas sector. A 0.9 per cent decline in natural gas extraction offset a rise in oil production.
The home resale market also suffered in January as the output of real estate agents and brokers fell by over 3 per cent after four straight monthly increases.
The construction sector also slowed, down by 0.1 per cent in the month.
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