Canada February GDP shrank 0.1 percent

29 April AtoZForex, Vilnius — Unlike most countries to provide quarterly reports, Canada releases every month its GDP data. The analysts already expected the Canada February GDP shrank to 0.1 percent, due to the best recorded figures in January since 2013. For the first time in five months the Canada economy shrank, due to the slow down in various sectors including mining, energy and manufacturing.

Canada February GDP shrank

The Statistics Canada reported that:

– The Canada February GDP shrank to a seasonally adjusted -0.1%.

– Coming in line with the Analysts’ expectations of a -0.1% fall.

– Weak figures came in after the best performing month in January since 2013, which came in at 0.6% for the preceding month.

Aside the listed three sectors in the first paragraph, the Statistics Canada also disclosed that the Canadian forestry and agriculture also experienced a slow down. Meanwhile, the bureau reported that the sectors retail space, construction, insurance and finance have improved. Despite the Canada February GDP shrank, the performance was not bad as expected by the analysts.

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