Statistics Canada announced a robust 0.4% growth in Canada's GDP for January, primarily fueled by significant gains in the oil, gas, and mining sectors. This marked the highest monthly increase for goods-producing industries in over three years, reflecting a strong start to 2025. However, signs of trouble emerged in February as early estimates indicated stagnant growth, attributed to a slowdown in retail trade and fears of impending U.S. tariffs targeting foreign automobiles, which are anticipated to affect Canadian exports.
Statistics Canada reports that while the Canadian economy showed a promising start in January with a 0.4% GDP rise, it faced challenges in February.
The notable boost in January's GDP was driven by a surge in the oil, gas, and mining sectors, marking the largest monthly increase for goods-producing industries in three years.
Collection
[
|
...
]