Canadian Manufacturing

Statistics Canada says country’s economy grew 0.3% in October

The improvement followed a contraction of 0.1 per cent in September

December 21, 2018  The Canadian Press

OTTAWA—Statistics Canada says the economy grew 0.3 per cent in October, led by growth in manufacturing, finance and insurance, and wholesale trade.

Economists had expected growth of 0.2 per cent, according to Thomson Reuters Eikon.

The improvement followed a contraction of 0.1 per cent in September.

Goods-producing industries increased 0.3 per cent after two monthly declines, while services-producing industries also grew 0.3 per cent, their strongest showing since May.

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In a separate report, Statistics Canada reported retail sales increased 0.3 per cent to $51.0 billion in October.

Economists had expected an increase of 0.4 per cent.