OTTAWA — Statistics Canada says real gross domestic product rose 0.2 per cent in February. The growth followed a 0.5 per cent gain in January.
The growth followed a 0.5 per cent gain in January.
Looking ahead, Statistics Canada says its advance estimate for March indicated that real GDP was essentially unchanged for the month. Based on the preliminary figure, the Canadian economy grew at an annualized rate of 2.5 per cent in the first quarter of 2024.The economic expansion in the month came as services-producing industries increased 0.2 per cent. It was helped by the transportation and warehousing sector which increased 1.4 per cent, as rail transportation grew 5.5 per cent with activity returning to normal after freezing temperatures in January in Western Canada.
Air transportation also increased 4.8 per cent in February, driven by growth in international travel as some airlines increased capacity to Asia.The mining, quarrying, and oil and gas extraction sector grew 2.5 per cent in February as oil and gas extraction increased 3.3 per cent, partially offsetting a contraction in January. Mining and quarrying rose 1.9 per cent.This report by The Canadian Press was first published April 30, 2024.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Statistics Canada says real GDP grew 0.2 per cent in FebruaryCanada'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.
Read more »
Statistics Canada to release February GDP report, Q1 growth estimate todayStatistics Canada is set to release its February gross domestic product report today, along with a preliminary estimate for economic growth during the first three months of the year.
Read more »
Statistics Canada to release February GDP report, Q1 growth estimate todayStatistics Canada is set to release its February gross domestic product report today, along with a preliminary estimate for economic growth during the first three months of the year.
Read more »
Statistics Canada to release February GDP report, Q1 growth estimate todayOTTAWA — Statistics Canada is set to release its February gross domestic product report today, along with a preliminary estimate for economic growth during...
Read more »
Statistics Canada reports February retail sales down 0.1% to $66.7 billionOTTAWA — Canadian retail sales edged lower in February, weighed down by lower sales at gasoline stations and fuel vendors. Statistics Canada said Wednesday retail sales fell 0.1 per cent to $66.
Read more »
Statistics Canada reports February retail sales down 0.1% to $66.7 billionOTTAWA — Canadian retail sales edged lower in February, weighed down by lower sales at gasoline stations and fuel vendors. Statistics Canada said Wednesday...
Read more »