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December 07, 2017

Canada's gross domestic product rose 0.2% in September

Statistics Canada announced that the country's gross domestic product (GDP) rose 0.2% in September after edging down 0.1% in August.

According to the Federal agency, goods-producing (+0.4%) and services-producing (+0.1%) industries rose as 12 of 20 industrial sectors grew, led by the mining, quarrying and oil and gas extraction sector.

The mining, quarrying and oil and gas extraction sector was up 0.7% in September after declining for three consecutive months.

Utilities increased 1.7% in September as volatile and unseasonal weather conditions increased the demand for air conditioning and heating across many parts of the country.

Transportation and warehousing grew 0.5% as six of nine subsectors increased. Rail transportation was up 4.4% as movement of coal, grain and fertilizer, intermodal and other freight by rail increased.