In February, GDP decreased 0.2% over the previous month in seasonally adjusted terms, falling short of January's 0.5% increase as well as market expectations of a flat reading. On an annual basis, GDP grew 2.8%, down from a 3.3% increase observed in January. The annual average growth rate remained at 3.5% in February, which was unchanged from the previous month. The monthly decline was mainly driven by disappointing results in the manufacturing sector and, to a lesser extent, in wholesale trade. On the other hand, retail trade and finance, insurance and real estate services, which account for more than 20% of GDP, expanded in February. Overall, output decreased in 8 of the 18 categories surveyed by Statistics Canada (Statcan). The Central Bank updated its economic forecasts in its April Monetary Policy Report and now estimates the economy to have grown at a seasonally adjusted annualized rate of 2.9% in the first quarter of this year, which is in line with the Consensus Forecast. For 2011, the Central Bank projects GDP to grow 2.9%, before decelerating to a 2.6% expansion in 2012.
GDP declines in February on weak manufacturing
April 29, 2011
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.