US EditionCanada's economy got hot in January, but StatCan points to February chill
- Statistics Canada reported that the Canadian economy began 2025 with a strong start, as real gross domestic product rose 0.4 per cent in January.
- The January growth was largely driven by a boom in the oil and gas, quarrying, and mining industries, with goods-producing industries rising 1.1 per cent, the largest one-month jump in over three years.
- Contributing to the goods-producing industries' growth in January were the manufacturing, utilities, and construction sectors, while the services side of the economy edged up 0.1 per cent.
- However, StatCan noted that a slowdown in retail trade weighed on GDP at the start of 2025, following strong growth in December, and early estimates suggest growth was essentially unchanged in February.
- Looking ahead, CIBC senior economist Andrew Grantham anticipates that tariffs announced by U.S. President Donald Trump, targeting vehicles made outside the U.S. and partially effective in March, will have a clearer negative impact on Canada's GDP in March and during Q2.
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Timmins Today
Canada's economy 'sprinting into a wall' to start 2025 as tariff hit looms
OTTAWA — The Canadian economy was off to a solid start in January but early signs suggest growth stalled in February amid harsh winter weather and the looming threat of tariffs. Statistics Canada said Friday that real gross domestic product rose 0.
Canada’s Economy Got Hot in January, but StatCan Points to February Chill
Statistics Canada says the Canadian economy was off to a solid start in January but early signs suggest growth hit a wall in February. The agency said Friday that real gross domestic product rose 0.4 percent in January thanks largely to a boom in the oil and gas, quarrying and mining industries. That marks an acceleration from 0.3 percent growth in December, a figure that was revised up a tenth of a percentage point. Canada’s goods-producing ind…
The Canadian economy began well in January, but early signs indicate that growth was stagnating in February, due to harsh winter conditions and the imminent threat of tariffs.
The Hamilton Spectator
St Catharines StandardCanada’s economy got hot in January, but StatCan points to February chill
OTTAWA - Statistics Canada says the Canadian economy was off to a solid start in January but early signs suggest growth hit a wall in February.
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