OTTAWA — Canada's real gross domestic product grew 0.6 per cent in January, helped by the end of public sector strikes in Quebec in November and December, Statistics Canada said Thursday.
"Even though January's growth was flattered by a rebound in the public sector following strike activity in Quebec, solid momentum appears to have extended to February as well," he wrote in a note to clients. The Bank of Canada's key interest rate is set at five per cent. The central bank is expecting to be able to begin cutting interest rates sometime later this year, but according to its most recent summary of deliberations, its officials are split on timing.
The educational services sector gained 6.0 per cent after falling in November and December due to the strikes in Quebec, while the health care and social assistance sector, which was also impacted by the strikes, rose 0.8 per cent.
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