January 31, 2018 / 1:44 PM / a year ago

UPDATE 1-Canada economy picks up in Nov with broad-based growth

(Adds details from report)

OTTAWA, Jan 31 (Reuters) - The Canadian economy accelerated in November by the most in six months, with growth broad-based across a number of sectors including manufacturing, oil and gas extraction, and real estate, data from Statistics Canada showed on Wednesday.

Gross domestic product rose by 0.4 percent from the previous month, in line with economists’ expectations and the biggest increase since May 2017. October’s flat reading was unrevised.

Growth was widespread as goods-producing industries led the way higher with a 0.8 percent gain. The manufacturing sector jumped 1.8 percent, its biggest gain since February 2014, helped by increased manufacturing of vehicles and parts.

The oil and gas extraction subsector climbed 1.6 percent as some facilities continued to get back to normal capacity after maintenance that started in mid-September.

Among the services industries, the real estate sector rose 0.4 percent as activity by agents and brokers increased for the fourth month in a row on higher home sales in Ontario and Alberta.

Reporting by Leah Schnurr; Editing by Bernadette Baum

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