Canada’s GDP ticks up 0.2% in February

Statistics Canada
April 30, 2024
Category: Finance & Economics
Region: Canada

Real gross domestic product (GDP) increased 0.2% in February, following a 0.5% gain in January. Services-producing industries (+0.2%) led the growth for a second month in a row, fuelled by gains in transportation and warehousing. 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. Overall, 12 of 20 sectors increased in the month. …The manufacturing sector declined 0.4% in February, driven by declines in transportation equipment manufacturing and chemical products manufacturing. Transportation equipment manufacturing contracted 2.9% as six of seven industries comprising the subsector were down.

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