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Statistics Canada says economy grew 0.7% in November

THE CANADIAN PRESS | posted Friday, Jan 29th, 2021

Statistics Canada says the economy grew 0.7 per cent in November.

The gains in November was the seventh straight month of gains after steep drops in March and April.

The agency also says its preliminary estimate for December shows growth of 0.3 per cent, even as much of the country headed into heavy restrictions to slow the spread of COVID-19.

The preliminary estimate for the fourth quarter shows an annualized growth rate of 7.8 per cent.

For the full year, Statistic Canada’s preliminary estimate shows the economy contracted by 5.1 per cent.

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