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OTTAWA \u2014 Statistics Canada says the Canadian economy contracted in February but early signs suggest moderate growth in March.<\/p>\n
The agency says real gross domestic product decreased 0.2 per cent in February.<\/p>\n
That was driven by a 0.6 per cent decline for goods-producing industries, with mining, quarrying, and oil and gas extraction and construction contributing the most to the decrease.<\/p>\n
Services-producing industries edged 0.1 per cent lower in February as contractions in transportation and warehousing, along with real estate, rental and leasing, were partially offset by a rise in finance and insurance.<\/p>\n
StatCan\u2019s early estimates indicate real GDP increased 0.1 per cent in March amid gains in mining, quarrying, and oil and gas extraction, retail trade and transportation and warehousing.<\/p>\n
The agency says the annualized growth rate for the first quarter based on the March flash estimate is 1.5 per cent.<\/p>\n
\u00a92025 The Canadian Press<\/strong><\/p>\n<\/p><\/div>\n