Canadian Economy Grows in November, Driven by Cold Snap

Statistics Canada (StatCan) is reporting that the Canadian economy grew by a surprise 0.1% in November, driven by a boost in utility use because of an unexpected cold snap in central Canada. Analysts in a Reuters poll had predicted no change after an unexpected 0.1% decline in October. Goods-producing industries and the services sectors both posted a 0.1% gain. Increases were reported in 15 of the 20 industrial sectors tracked by StatCan.