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. Transportation and warehousing increased 1.4% in February, the largest monthly growth rate since January 2023, as six of nine subsectors ... (full story)

Canada's GDP rose 0.2 per cent in February, driven by a rebound in transportation and warehousing, which saw the largest recorded month-to-month rise in over a year at 1.4 per cent. Canada has so far averted a recession that many economists feared would happen after the Bank of Canada began its aggressive rate-hiking cycle. Strong population growth has helped bolster the economy, even as high interest rates slow consumer demand and business investment. The Canadian economy grew at an annualized rate of one per cent in the fourth quarter, but shrank on a per capita basis. The Bank of Canada will have an eye on today's ... (full story)