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Canada Sees Progress

Canada Sees ProgressCanada Sees Progress

The Canadian economy accelerated in November by the most in six months, with growth broad-based across a number of sectors including manufacturing, oil and gas extraction, and real estate, data from Statistics Canada showed on Wednesday, Reuters reported. Gross domestic product rose by 0.4% from the previous month, in line with economists’ expectations and the biggest increase since May 2017. October’s flat reading was unrevised. Growth was widespread as goods-producing industries led the way higher with a 0.8% gain. The manufacturing sector jumped 1.8%, its biggest gain since February 2014, helped by increased manufacturing of vehicles and parts. The oil and gas extraction subsector climbed 1.6% as some facilities continued to get back to normal capacity after maintenance that started in mid-September. Among the services industries, the real estate sector rose 0.4% as activity by agents and brokers increased for the fourth month in a row on higher home sales in Ontario and Alberta.

 

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