TORONTO (Pakistan Point News / Sputnik - 31st March, 2021) Canada's gross domestic product increased by 0.7 percent in January, but still remains 3 percent below pre-coronavirus pandemic levels, the country's statistics agency said on Wednesday.
"Real gross domestic product (GDP) rose 0.7 percent in January, following 0.1 percent growth in December," Statistics Canada said in a report. "However, total economic activity was about 3 percent below the February level before the COVID-19 pandemic."
While most of the industrial sectors saw increased economic activity, retail trade, food services, accommodation and transport sectors declined at rates of up to 3.1 percent, Statistics Canada said.
Preliminary data indicates that the Canadian economy grew by 0.5 percent in February, it added.
