Canada’s economy weakened in February, with gross domestic product contracting by 0.2 per cent after growing by 0.4 per cent in January, and a flash estimate for March shows the economy continuing to stagnate, according to Statistics Canada data released Wednesday.
The decline in February was mainly due to the goods-producing sectors, such as mining, quarrying and
oil and gas extraction
. Overall, 12 of the 20 industrial sectors that Statistics Canada follows declined in February.
The agency’s advanced estimate for March suggests 0.1 per cent growth in GDP, meaning the economy grew by 0.4 per cent in the first quarter of 2025. The official numbers will be available on May 30.
More to come …
Canada's economy shrinks in February, stalls in March
2025-04-30 12:52:09
