The Canadian Statistics Agency said that economic growth resumed in January after a slight contraction in December.

The agency also said that real GDP rose by 0.5 percent at the beginning of this year, after contracting by 0.1 percent in the last month of 2022.

It also said that its preliminary estimates for February indicate continued growth with gains of 0.3 percent, although it warned of updating the figure.

For January, the growth came with a rebound in the wholesale trade, transportation and storage, mining, quarrying, and oil and gas extraction sectors after their decline in December.

Wholesale trade also gained 1.8 percent in January, helped by wholesalers of machinery, equipment, and supplies, while the mining, quarrying, and oil and gas extraction sector grew by 1.1 percent after its decline to 3.3 percent in December.

Also, the transportation and storage sector rose by 1.9 percent in January, compensating for a 1.1 percent decline in December, which was partly due to bad weather.