Canada GDP grew 0.4% mom in February, slightly below expectation of 0.5% mom. That’s the 10th consecutive month of growth. But total economic activity was still about -2% below pre-pandemic level in February 2020. Preliminary information indicates that growth will continue in March with 0.9% mom rise in real GDP.
Looking at some details, services-producing industries were up 0.6%, while goods-producing industries contracted (-0.2%) for the first time since April. Overall, 14 of the 20 industrial sectors expanded in February.
