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Economy shrunk 0.2% in February, StatCan estimates 1.5% annualized growth for Q1

  • Statistics Canada reported the Canadian economy contracted 0.2% in February, driven by declines in goods-producing industries like mining, quarrying, oil and gas extraction and construction.
  • Services-Producing industries edged 0.1% lower in February, with contractions in transportation, warehousing and real estate offset by gains in finance and insurance.
  • StatCan estimates the annualized growth rate for the first quarter is 1.5% based on an early estimate of 0.1% growth in March amid gains in mining, retail trade and transportation.
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Economy shrunk 0.2% in February, StatCan estimates 1.5% annualized growth for Q1

The Canadian economy shrunk in February, but economists say bad weather was likely the larger culprit than uncertainty related to the trade war with the U.S.

·Canada
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Canadian Manufacturing broke the news in on Wednesday, April 30, 2025.
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