Apr 28, 2023
By Angus Gillespie
According to new figures from Statistics Canada, the Canadian economy’s strong bounce-back at the start of the year appears to have been short-lived.
Data shows the economy grew by a scant 0.1% in February.
Preliminary estimates reveal real gross domestic product grew at an annualized rate of 2.5% in the first quarter, and contracted in March.
Wholesale and retail trade as well as manufacturing all contracted.
Boosting real GDP in February was growth in the public sector, professional, scientific and technical services, construction and finance and insurance.
The federal agency’s preliminary estimate for March suggests the economy contracted by 0.1%.
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