Economic growth resumed in January in Quebec, after the 1.5% decline recorded in December due to strikes in the public sector.
Posted at 1:12 p.m.
Gross domestic product increased by 1.9% in January at an annual rate, an expected rebound which bodes well for the first quarter of 2024. “After recording three consecutive quarters of decreases in real GDP, i.e. from spring 2023 to At the end of the year, the Quebec economy will experience a positive first quarter,” predicts Hélène Bégin, economist at Desjardins.
The growth of the Quebec economy in January (1.9%) is higher than that of 0.6% for Canada as a whole during the same period.
The recovery of the economy in January is not limited to the return to normal in the public sector. “Eighty-five industries experienced growth in January, the highest proportion observed since September 2020 in the context of reopening of the economy following the first wave of the pandemic,” notes economist Daren King, of the National Bank.
