Canadian economy has Grow for the ninth consecutive month

Statistics Canada said today that Canada's gross domestic product (GDP) grew by 0.7% in January, the ninth month in a row of expansion but still 3% lower than it was before the pandemic in February 2020.

Last week, the Canadian central bank said it was looking into how to adjust its quantitative easing program and is currently buying Canadian $ 4 billion in bonds a week to support the economy. Also, other data today showed that Canadian producer prices rose 2.6% in February with the rise in energy and petroleum products prices, the largest monthly increase since January 1980.