Ekonomické zprávy

Canada’s economy increases less than expected in February

Statistics Canada announced on Friday that the Canadian gross domestic product (GDP) grew 0.1 percent m-o-m in February, following an upwardly revised 0.6 percent m-o-m expansion (from +0.5 percent m-o-m) in January. Economists had forecast a 0.2 percent m-o-m advance for February.

In y-o-y terms, the Canadian GDP grew 2.5 percent in February.

According to the report, both goods-producing (+0.1 percent m-o-m and) services-producing (+0.1 percent m-o-m) businesses underpinned the February uptick.

Overall, 12 of the 20 industrial sectors demonstrated an expansion in February, led by professional, scientific and technical services (+0.6 percent m-o-m), utilities (+0.6 percent m-o-m), and educational services (+0.5 percent m-o-m). Meanwhile, management of companies and enterprises (-2.4 percent m-o-m), arts, entertainment and recreation (-1.4 percent m-o-m), and wholesale trade (-1.3 percent m-o-m) showed the biggest declines.

It was also reported that preliminary data indicates that real GDP shrank 0.1 percent m-o-m

 in March. 

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