Statistics Canada announced that Canada's real gross domestic product (GDP) edged down 0.1% in March, partially offsetting February's increase (+0.2%) and driven by contractions in goods-producing industries.

Goods-producing industries contracted 0.8% in March, more than offsetting February's expansion. This was the fifth decline in the last six months.

The decrease in March was in large part a reflection of lower activity in the mining, quarrying, and oil and gas extraction sector and in the construction sector. Services-producing industries tempered the decline, edging up 0.1% in March, led by an increase in wholesale trade. Overall, 8 of the 20 industrial sectors contracted in March.

Goods-producing industries contracted 0.8% in March, more than offsetting February's expansion. This was the fifth decline in the last six months. The decrease in March was in large part a reflection of lower activity in the mining, quarrying, and oil and gas extraction sector and in the construction sector. Services-producing industries tempered the decline, edging up 0.1% in March, led by an increase in wholesale trade. Overall, 8 of the 20 industrial sectors contracted in March.

 

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