CanadaPolitics

Statistics Canada says real GDP grew 0.2 per cent in February

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Statistics Canada says real gross domestic product rose 0.2 per cent in February, following a gain of 0.5 per cent in January.

Looking ahead, the agency said its advance estimate for March indicated that real GDP was essentially unchanged for the month.

The economic expansion in February came as services-producing industries increased 0.2 per cent helped by gains in transportation and warehousing.

Statistics Canada says goods-producing industries were essentially unchanged as the mining, quarrying, and oil and gas extraction sector grew and the utilities and manufacturing sectors contracted.

Overall, 12 of 20 sectors increased in February. 

The Bank of Canada will have an eye on the economic growth figures as it tries to gauge when it may be appropriate to begin lowering interest rates.

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