Canada's GDP Edges Higher in January

08:49 AM EDT, 03/31/2026 (MT Newswires) -- Real gross domestic product edged up 0.1% month over month in January, following 0.2% month-over-month growth in December, driven by strength in goods-producing industries, said Statistics Canada on Tuesday.

January's GDP was higher than a flat consensus reading provided by MUFG.

Advance information indicates that real GDP increased 0.2% month over month in February, noted Canada's statistical agency in a statement. Increases in manufacturing, in the mining, quarrying and support services subsector and in finance and insurance were partially offset by decreases in agriculture, forestry, fishing and hunting.

In January, goods-producing industries expanded by 0.2% month over month for the second month in a row, as gains in mining, quarrying, and oil and natural gas extraction, construction and utilities more than offset a contraction in manufacturing, added StatsCan.

Meanwhile, services-producing industries were essentially unchanged in January, as increases in retail trade and finance and insurance were offset by declines in wholesale trade and transportation and warehousing. Overall, nine of the 20 industrial sectors recorded growth in January.

For Canada, GDP and Income and Expenditure Accounts measure the production of goods and services in the Canadian economy as well as the incomes arising from this production and expenditure on the production. GDP represents the unduplicated value of goods and services produced during the reference period and are available for domestic consumption, investment or export.

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