Canadian economy grew 0.6% in January

The Canadian economy grew more than expected in January. Statistics Canada says real gross domestic product rose 0.6% in the first month of 2016, boosted by manufacturing, retail trade and the oil and gas sector. Economists had expected growth of 0.3% , according to Thomson Reuters.

Statistics Canada says the output of goods-producing industries increased 1.2% in January. Service-producing industries rose 0.4%. The manufacturing sector grew by 1.9% per cent in January while the mining, quarrying, and oil and gas extraction rose 0.9%. Retail trade increased 1.5%.