In November, Canada's GDP grew 0.2%, marking first increase in six months; preliminary data suggests continued growth in December, potentially avoiding a recession.

Canada's GDP grew by 0.2% in November, marking the first growth in six months. Preliminary data suggests the economy continued to grow in December, showing some economic momentum at the end of the year. If the data remains unchanged, Canada's GDP in 2023 will reach 1.5%, avoiding a recession that some predicted. The growth is attributed to increased activity in manufacturing and other goods-producing industries.

January 31, 2024
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