* Oct rise of 0.1 pct had spurred weak Q4 forecasts
* Manufacturing, mining and oil lead growth
* Median forecast was for a 0.2 percent rise
* BoC seen on sidelines amid weak jobs, prices -analyst
OTTAWA, Jan 31 Canada's economy grew faster than
expected in November, rising 0.3 percent after a tepid 0.1
percent rise in October and no gain in September, Statistics
Canada said on Thursday.
The median forecast in a Reuters survey of economists was
for a 0.2 percent rise, though eight of the 21 analysts surveyed
predicted an increase of at least 0.3 percent. Taken to the
second decimal place, the rise was 0.28 percent. The data was
adjusted for seasonal factors such as Christmas shopping.
In the details for the month, Statscan said: "Most major
industrial sectors increased production in November."
Manufacturing was up 0.7 percent after a 0.9 percent decline
in October. Oil and gas extraction grew 0.8 percent, with crude
rising and natural gas declining.
The number improves the outlook for the fourth quarter,
which economists had repeatedly downgraded after a relatively
strong first half of 2012. The Bank of Canada this month
predicted annualized fourth quarter growth of 1.0 percent.
"It is suggesting some strength as we go through the fourth
quarter," said Paul Ferley at Royal Bank of Canada.
Still, due to the weak start in October, the quarter would
still be sub-potential at roughly 1 percent, he said.
"This data argues in favor of the Bank (of Canada) remaining
on the sidelines," he said, pointing to a weak picture for
inflation and jobs.