Canada's real GDP increases 0.2 pct in December

Ottawa [Canada], March 1: Canada's real gross domestic product (GDP) increased 0.2 percent in December, 0.5 percent in the fourth quarter and 1.6 percent in 2024, Statistics Canada said Friday.
Both services-producing and good-producing industries were up, contributing to the fifth increase in the last six months. Services-producing industries were the largest contributors to growth in December, driven by a strong increase in retail trade, said the national statistical agency.
According to the agency, services-producing industries were also the main drivers of growth for both the fourth quarter and the year of 2024.
Services-producing industries increased by 2.2 percent in 2024, despite growing at the slowest pace in four years. Overall, 15 out of 20 sectors increased in 2024, said the agency.
Advance information indicated that real GDP increased 0.3 percent in January. Increases in mining, quarrying and oil and gas extraction, wholesale trade and transportation and warehousing were partially offset by decreases in retail trade, said Statistics Canada.
Source: Xinhua News Agency