Canada Monthly GDP MoM

Canada's economy is expected to have grown by 0.4% in February 2024, with increases in mining, quarrying, & oil & gas extraction, manufacturing, and finance & insurance offsetting decreases in utilities. In January, the GDP expanded by 0.6%, more than the preliminary estimate of 0.4%, as services-producing industries went up by 0.7% and goods-producing services - by 0.2%. Manufacturing sector recouped previous losses with a 0.9% rise thanks to both durable (0.9%) and non-durable goods (1%).Meanwhile, public sector rebounded after two consecutive periods of declines by 1.9%, led by educational services since the impact from workers' strikes in Quebec faded. Also, utilities sector grew by 3.2% amid severe winter conditions in parts of the country. In contrast, mining, quarrying and oil & gas extraction sector contracted by 1.9%.