Statistics Canada says the Canadian economy contracted in February but early signs suggest moderate growth in March.
The agency says real gross domestic product decreased 0.2 percent in February.
That was driven by a 0.6 percent decline for goods-producing industries, with mining, quarrying, and oil and gas extraction and construction contributing the most to the decrease.
Services-producing industries edged 0.1 percent 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.
StatCan’s early estimates indicate real GDP increased 0.1 percent in March amid gains in mining, quarrying, and oil and gas extraction, retail trade and transportation and warehousing.
The agency says the annualized growth rate for the first quarter based on the March flash estimate is 1.5 percent.
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