NEWS
12/23/2013 09:08 EST | Updated 02/22/2014 05:59 EST

Canada's economy expanding at 2.7% pace

Canada's gross domestic products expanded at a 2.7 per cent annual pace in October, slightly ahead of what economists were expecting, mainly attributed to an uptick in the hard-hit manufacturing sector.

Statistics Canada reported Monday that the economy expanded by 0.3 per cent on a monthly basis. That's the fourth straight monthly increase. Economists were expecting the monthly figure to come in at around 0.2 per cent.

Goods-producing industries generally fared better than the service sector, with manufacturing being a standout, the data agency said.

Manufacturing expanded at an annual pace of 2.4 per cent, mainly because of an uptick in the production of food, beverage and tobacco products.

More to come.