Lower oil output contributes to GDP drop in January

Canadian economic growth fell 0.1 percent in January on lower output of non-conventional oil extraction and decreased activity in real estate, Statistics Canada said today.

According to a Reuters article, the service-producing sector was flat in January, while the goods-producing sector declined by 0.4 percent, due to oil and gas extraction.

Statscan revised December’s month-on-month growth up to 0.2 percent from an initial 0.1 percent.

(Reuters)