Recovery Increasing Pace, Latest Data Shows

(Reuters – David Ljunggren)

Canada’s economic recovery is picking up pace with January manufacturing sales higher than expected and labor productivity rising for the first time in more than a year, official data showed on Tuesday.

Analysts enthused about the figures, saying it showed Canada was well over the worst of the recession. “We saw a pair of very encouraging reports spill out of Statistics Canada today, which together suggest that the recovery is deepening and taking on a healthier glow,” said Douglas Porter of BMO Capital Markets Economics.

The minority Conservative government has so far taken a more cautious line, stating repeatedly that the recovery is still fragile and the jobless rate is too high. Ottawa is also keeping a close eye on the strengthening Canadian dollar, which manufacturers say makes it harder for them to sell their goods.

Read more here. Summary manufacturing statistics, and links to the data files, are on the Statistics Canada website. Labour productivity summary statistics and links are here.