Real gross domestic product (GDP) was up 0.2% in February, with goods-producing industries driving the growth for the second consecutive month. Goods-producing industries grew 0.4% in February, driven by expansions in manufacturing and mining, quarrying, and oil and gas extraction. Services-producing industries edged up 0.1%, as rebounds in transportation and warehousing and wholesale trade were largely offset by contractions in the public sector. The manufacturing sector led the growth in February, rising 1.8% in the month. This was the largest monthly growth in the sector since January 2023 (+2.2%) and was driven ... (full story)

Canada's economy defied expectations with a 0.2% growth in February, driven by gains in goods-producing sectors, according to data released on Thursday. Key contributors were manufacturing, wholesale trade, and the mining sector, marking the fourth consecutive month of GDP growth. Despite challenges posed by U.S. tariffs notably impacting steel, automotive, and lumber industries, Canada managed to evade recession. Economists stress the importance of the North American free trade deal in protecting over 85% of the economy from U.S. tariffs. However, uncertainties linger with global events, such as the situation in ... (full story)