OTTAWA, Jan 29 (Reuters) - Canadian economic growth edged up
in November on an increase in oil and gas extraction and greater
wholesale and retail trade, Statistics Canada said on Friday,
but the modest improvement still pointed to a fourth quarter
that was likely underwhelming.
Gross domestic product rose 0.3 percent for the month,
matching economists' expectations.
Oil and gas extraction jumped 2.1 percent, rebounding from a
slump in September and little growth in October following
production problems and maintenance shutdowns.
Retail trade rose 1.2 percent with gains seen in nearly all
of the trade groups, including motor vehicle and parts dealers.
The wholesale trade segment rose for the first time in five
months, gaining 1.3 percent, helped by increased demand for
building materials and supplies.
The overall growth for November comes on the heels of a flat
October and a decline in September. Oil-exporting Canada emerged
from a mild recession in the third quarter of last year but
economists anticipate growth likely stalled again in the final
quarter of the year. The Bank of Canada recently forecast no
growth for the quarter.
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Graphic - Canada monthly GDP, exports to the U.S. http://link.reuters.com/jev87s
Graphic - Canada economic dashboard http://graphics.thomsonreuters.com/15/sc-canada/index.html
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