Canada's gross domestic product grew by 0.4 per cent in November, Statistics Canada said Friday.

Shipping containers sit awaiting export. Canada's economy grew by a modest 0.4 per cent in November. (Philip Scott Andrews/Associated Press)

It was the third consecutive monthly increase, following small gains in September and October.

The gains were broad-based, as most major industrial groups increased their production.

"Suddenly, the Bank of Canada’s Q4 growth estimate of 3.3 per cent looks positively modest — GDP has now risen at a five per cent annualized clip over the past three months," BMO economist Doug Porter said Friday.

Goods-producing industries moderately outpaced the service sector; the former grew 0.6 per cent, while the latter expanded by 0.4 per cent.

"Leadership from [goods-producing] industries is typical for this early stage of an expansion," CIBC chief economist Avery Shenfeld noted on Friday.

Mining and oil and gas extraction, and wholesale trade accounted for about 60 per cent of the overall growth.

The finance and insurance sector was also a source of strength, growing 1.2 per cent.

Construction activity rose 1.1 per cent during the month, the fourth consecutive monthly increase.

Following a 0.1 per cent gain in October, the manufacturing sector was largely unchanged.

"This is one of the most convincing signs so far that the Canadian recovery is for real," Porter said.