Canada's GDP grows 1.5 pct in 2023

OTTAWA, Jan. 31 (Xinhua) -- Canada's real gross domestic product (GDP) by industry is expected to grow 1.5 percent in 2023 and 0.3 percent in the fourth quarter with December's advance estimate, Statistics Canada said on Wednesday.

Advance information indicates that real GDP increased 0.3 percent in December, said the national statistical agency which will publish the official estimates on Feb. 29.

According to the agency, December's increases in manufacturing, real estate and rental and leasing, and mining, quarrying and oil and gas extraction were partially offset by decreases in transportation and warehousing, construction, and educational services.

GDP expanded 0.2 percent in November after remaining essentially unchanged for three consecutive months, the agency said.

The majority of the growth in November came from the goods-producing industries grouping, which saw its highest growth rate since January 2023, the agency said.

Services-producing industries edged up 0.1 percent in November 2023 despite the impact of the strikes in the Quebec public sector that began in the month, Statistic Canada added.