The Canadian economy grew 0.3% in October, according to the latest GDP figures from Statistics Canada. This increase, largely helped by improvements in the energy and resource sectors, followed a 0.2% increase in September.
Oil and gas extraction, quarrying, and mining saw an increase of 2.4% in October.
Goods producing industries rose 0.9%, a turnaround from four consecutive months of declines.
Manufacturing rose 0.3%, also following four months of decline.
The real estate and rental sector showed a 0.5% increase, its largest since last January despite the fact that it has been on the rise for six months.
Despite the economic bump, Statistics Canada says early indicators suggest the growth may be short-lived.
“Advance information indicates that real GDP decreased 0.1% in November,” the statistics agency said in its analysis. “Decreases in mining, quarrying, and oil and gas extraction, transportation and warehousing, and finance and insurance were partially offset by increases in accommodation and food services and real estate and rental and leasing.”
The November data will be released Jan. 31.