Canada: Monthly GDP contracts again in March
May 31, 2016
In March, monthly GDP fell 0.2% over the previous month in seasonally-adjusted terms. The tally followed the 0.1% decline recorded in February and was the steepest contraction in six months. According to Statistics Canada, mining, quarrying, and oil and gas extraction dragged on output, while output from the service producing industry was largely unchanged.
On an annual basis, GDP grew 1.1% in March, a deceleration from February’s 1.4% expansion. Despite the decrease, the overall trend remained at 0.8% growth, where it have been resting since January and which is the lowest figure since July 2010.
Author: Robert Hill, Economist