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People walk by a statue of former Montreal Canadiens' player Maurice Richard at the Bell Centre in Montreal, Jan. 6, 2013, the day the NHL and the NHLPA reached a tentative deal to end the league’s lockout. (Graham Hughes/THE CANADIAN PRESS)
People walk by a statue of former Montreal Canadiens' player Maurice Richard at the Bell Centre in Montreal, Jan. 6, 2013, the day the NHL and the NHLPA reached a tentative deal to end the league’s lockout. (Graham Hughes/THE CANADIAN PRESS)

End of NHL lockout to give economy small boost Add to ...

It will arguably mean more to hockey fans than the economy, but, at this point, every little bit counts.

The end of the National Hockey League lockout should put a small spark in Canada’s slowing growth.

The NHL and its players struck a tentative deal early Sunday, saving at least part of the season and giving some relief to businesses, such as sports bars and others, that suffered a dip during the lockout.

“Since a bit less than half the season looks to have been lost, the economic damage will be contained at less than 0.05 per cent of GDP,” said deputy chief economist Douglas Porter of BMO Nesbitt Burns.

“That loss would have been fully absorbed by now, and we should see a slight bump in January growth – in the arts, entertainment and recreation category.”

Indeed, according to the latest reading from Statistics Canada, output in those industries slipped 1.6 per cent in October.

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