OTTAWA, Ont. — Canada’s gross domestic product (GDP) rose 0.2 per cent in December, the third consecutive monthly advance since the plunge in September.
With this increase, the economy has regained all the ground it lost in the wake of terrorist attacks on the U.S. and in December was actually 0.2 per cent higher than August’s totals, reports Statistics Canada.
As in the previous two months, strong motor vehicle sales lifted up the retail industry and provided the single largest push to the economy.
A robust housing market, stimulated by low interest rates, spurred new homebuilding and the activity of real estate agents and brokers.
The economy also got a boost from wholesale trade and growing demand for information and communication technology (ICT) services.
Economic expansion was largely restrained, however, by a considerable slide in manufacturing coupled with continued weakness in the mining and energy sector.
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