Canada economy down 0.2% in February, most likely up 0.1% in March
OTTAWA, April 30 (Reuters) - The Canadian economy contracted by 0.2% in February, on decreases in mining, quarrying, and oil and gas extraction, as well as transportation and warehousing, Statistics Canada said on Wednesday.
March GDP was most likely up 0.1%, while first quarter GDP was likely up 1.5% on an annualized basis, the agency said in a flash estimate.
The goods-producing sector was down 0.6% in February, while the service-producing sector declined by 0.1%.
(Changes in percent)
Feb Jan(rev) Jan(prev) Feb yr/yr
All industries -0.2 +0.4 +0.4 +1.6
Goods -0.6 +1.1 +1.1 +1.2
Services -0.1 +0.1 +0.1 +1.7
NOTE - All figures are seasonally adjusted. Analysts in a Reuters survey had forecast February GDP to be flat.
(Reporting by Dale Smith; Editing by Promit Mukherjee)
((promit.mukherjee@tr.com, opens new tab))
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