FX.co ★ Canada GDP Seen Stalling in January

Canada’s gross domestic product was flat in January 2026 compared with the previous month, according to an advance estimate. If confirmed, this pause would follow a 0.2% expansion in December 2025, revised up from the earlier estimate of 0.1%. The stronger December figure helped to offset the 0.2% contraction in GDP recorded in the fourth quarter of 2025.

In December, output in goods-producing industries increased by 0.2%, supported by a 1.2% rise in manufacturing, which partially reversed steep declines over the prior two months. Utilities output grew by 1.2%, and construction activity rose 0.3%, more than offsetting a 0.9% decline in mining, quarrying, and oil and gas extraction.

Services-producing industries also expanded, with total services output up 0.2% in December. Wholesale trade advanced 1.7%, while financial services increased 0.4%.