Canada's GDP growth slows to 0.2 pct in February-Xinhua

Canada's GDP growth slows to 0.2 pct in February

Source: Xinhua

Editor: huaxia

2024-04-30 23:56:31

OTTAWA, April 30 (Xinhua) -- Canada's real gross domestic product (GDP) increased 0.2 percent in February, following a 0.5 percent gain in January, Statistics Canada said Tuesday.

Services-producing industries led the growth for a second month in a row, fuelled by gains in transportation and warehousing, the national statistical agency said.

The goods-producing industries aggregate was essentially unchanged as the mining, quarrying, and oil and gas extraction sector expanded while the utilities and manufacturing sectors contracted in February, the agency said.

According to the agency, advance information indicated that real GDP was essentially unchanged in March. Increases in utilities and real estate and rental and leasing were offset by decreases in manufacturing and retail trade.

With this advance estimate for March, information on real GDP by industry suggested that the economy expanded 0.6 percent in the first quarter of this year, Statistics Canada said.