Canada’s economy surpassed market expectation on a month-on-month basis; the market was expecting to grow 0.1 per cent, compared to gains coming in at 0.3 per cent, after seeing two months of shrinking economic activities. The GDP has also grown on a year-over-year basis, coming in at 1.6 per cent versus the projected 1.3 per cent growth. (BNN Bloomberg)

Talking point: Major gains in GDP are being attributed to construction picking up in the last few months. Activities in the industry increased by 1.9 per cent in January alone, the biggest one-month gain since 2013. The gains were muted due to oil production cuts by the Alberta government in January. But other factors, like the robust job market, cushioned to the economy, offsetting the impact of the energy sector’s slump; in January, 67,000 new jobs were created. The strengthening GDP suggests Canada isn’t headed for recession any time soon, and that the Bank of Canada may change its stance on cutting rates as the economy rebounds. A healthy GDP makes Canada an attractive market for investors like Microsoft, Amazon and Netflix, who are now warming up to the idea of investing in the country.