March 29, 2019 / 12:40 PM / in a year

UPDATE 1-Canada's economy grows by 0.3 percent in January

OTTAWA, March 29 (Reuters) - The Canadian economy grew by 0.3 percent in January from December, fully offsetting the declines of the last two months, Statistics Canada said on Friday.

The expansion follows a 0.1 percent decline in December and beat forecasts of a flat month by analysts in a Reuters poll.

The goods-producing industries rose by 0.6 percent, led by growth in manufacturing and construction, while the service-producing industries rose 0.2 percent.

Non-durable manufacturing rose by 1.9 percent, its strongest growth rate in seven months, nearly offsetting the declines of the past four months, Statistics Canada said. Durable manufacturing rose 1.2 percent, led by transportation equipment.

The construction sector, meanwhile, expanded by 1.9 percent in January, reversing seven months of declines and posting its largest monthly gain since July 2013.

Reporting by Julie Gordon and Dale Smith in Ottawa Editing by Nick Zieminski

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