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Thursday, June 24, 2021

Canada GDP for February 0.4% versus 0.5% estimate

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Canada GBP for February 2021

Canada GDP
  • Monthly GDP 0.4% versus 0.5% estimate. Last month +0.7%
  • YoY GDP -2.2% versus -2.3% estimate. Last month -2.3%
  • 14 of the 20 sectors were higher
  • this is the 10th consecutive monthly increase, although economic activity is 2% below the level observed in February 2020
  • services +0.6%
  • goods producing industries -0.2% for the first time since April
  • preliminary information indicates an approximate 0.9% increase in real GDP for March
  • retail trade +4.5% following two months of declines. 10 of the 12 sectors were up in February as a result of using of lockdown measures with clothing and clothing accessories up 23.5%, sporting goods, hobby, booking music stores +28.2%, and home and furniture up 11.7%
  • construction rose 2.0% February with all subsectors up
  • mining quarrying and oil and gas extraction fell for the first time in six months at -2.8% with two of three subsectors contracting
  • manufacturing felt -0.9% versus 1.5% gain in January. Both durable and nondurable manufacturing were down in February (durable -0.9% versus +2.2% in January. Nondurable -1.0% in February with four of nine subsectors down)
  • professional services +1.2%
  • public-sector +0.6%
  • other industries +3.5% following five consecutive months of declines. Food services and drinking places rose 4.0%. Transportation fell -2.0%. Wholesale trade fell -1.0%. Utilities +1.3%. Finance insurance +0.4%

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