Statistics Canada says manufacturing helps boost economic growth in November

OTTAWA — Strength in manufacturing helped boost economic growth in November as the sector posted its largest monthly increase since February 2014.

Statistics Canada said Wednesday real gross domestic product increased 0.4 per cent in November following a flat reading for October.

The result matched the expectations of economists polled by Thomson Reuters.

TD Bank senior economist Brian DePratto said equally important to the strength of growth was its breadth.

Of the 20 industrial sectors tracked, 17 posted increases.

“The Canadian economy fired on all cylinders in November: production resumptions led the way, but nearly all major sectors reported gains on the month, an encouraging sign,” DePratto wrote in a report.

The Bank of Canada raised its key interest rate target earlier this month on the back of a string of unexpectedly solid economic data. It was the third rate increase since last summer.

“Looking through monthly volatility, though, the GDP numbers add to the evidence that the Canadian economy as a whole continues to grow at a modestly ‘above-potential’ pace even as it increasingly looks to be operating at or beyond its long-run capacity,” Royal Bank senior economist Nathan Janzen wrote.

The growth in November came as goods-producing industries rose 0.8 per cent boosted by the manufacturing sector and mining, quarrying and oil and gas extraction.

The manufacturing sector gained 1.8 per cent in November as non-durable manufacturing rose 1.1 per cent while durable manufacturing increased 2.5 per cent.

Mining, quarrying, and oil and gas extraction increased 0.5 per cent.

Meanwhile, services-producing industries climbed 0.3 per cent, led by the real estate and rental and leasing, wholesale and retail trade sectors.

Real estate and rental and leasing rose 0.4 per cent in November while retail trade gained 0.6 per cent and wholesale trade rose 0.5 per cent.

Just Posted

Art Battle Red Deer to support Women of Excellence Awards

Art Battle Red Deer will be April 6 at the Radisson Hotel

Eliminating racial discrimination events in Red Deer this week

Two upcoming events aim to inspire change and eliminate racial discrimination in… Continue reading

Outfitter facing Wildlife Act charges

It is alleged archery-only hunting licences used out of season

Sunnybrook pies in demand

Just in time for Easter

Red Deer’s Chopped Canada winner takes break from restaurant business

Pete Sok closes Sophear, but plans to eventually relocate

WATCH: Red Deerians can have a say about crime fighting

Municipality will poll citizens about policing priorities

21-year-old charged with drug trafficking in Rocky Mountain House

RCMP seized drugs after conducting a traffic stop and charged a 21-year-old… Continue reading

Liberal bill would tighten controls on sale, licensing of firearms

OTTAWA — Gun retailers would be required to keep records of firearms… Continue reading

Alberta factoring in Trans Mountain pipeline in budget forecasts

EDMONTON — Finance Minister Joe Ceci says Alberta will rely on anticipated… Continue reading

Pooches and pickup truck stolen in Edmonton found in Rimbey

Two old English bulldogs named Rocky and Jersey who were in a… Continue reading

Statistics Canada reports wholesale sales up 0.1 per cent in January

OTTAWA — Statistics Canada says wholesale sales rose 0.1 per cent to… Continue reading

Right whale deaths cost Gulf snow crab fishery its designation as sustainable

HALIFAX — An international organization has suspended a sustainability certificate for the… Continue reading

Financial watchdog says controls to mitigate sales risk at banks ‘insufficient’

TORONTO — Canada’s financial consumer watchdog says there are “insufficient” controls in… Continue reading

Sheriff official: 3 injured in Maryland high school shooting

GREAT MILLS, Md. — A shooting at a Maryland high school Tuesday… Continue reading

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month