Canadian monthly GDP
- Prior was -0.2%
- Goods -0.1%
- Services +0.2%
Canada is one of the few countries to report on GDP every month. This is the first gain after two straight months of declines.
The oil and gas sector contracted 2.4% but that was outweighed by gains in manufacturing, utilities and the public sector. That breakdown is good news if oil can hold around $50. It shows that weakness in energy hasn't spread to the larger economy.