In terms of economic growth
, Canada is well on its way. For the fifth straight month, Canada’s gross domestic product
(GDP) gained from the prior month. In January, the GDP grew 0.6 percent to $1.22 trillion Canadian Dollars.
The GDP growth came from resurgence in the manufacturing, construction and wholesale trade according to Statistics Canada.
The housing market
continued to be a mitigating factor in the success of the Canadian economic recovery
. According to the report, “The construction sector advanced 1.7% in January. The increases recorded in residential construction (+4.0%) and in engineering and repair work (+1.0%) overshadowed the 0.5% decrease in non-residential building construction.”
Another industry that did fairly well and helped raise the overall GDP was the retail trade industry
. The report states value added in the retail trade sector rose 0.8% in January. The biggest increases came in building and outdoor home supplies stores, home furnishings stores and food and beverage stores.
For the complete report: http://www.statcan.gc.ca/daily-quotidien/100331/dq100331a-eng.htm