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Canadian Monthly GDP

Following four consecutive monthly increases, Canadian real GDP declined in February, dropping 0.1 per cent from January. The decline in output was the result of decreases in manufacturing as well as mining and oil and gas extraction. However, sectors including retail trade, finance and construction edged higher.

Despite a poor showing in February, economic growth for the first quarter is still tracking at a robust rate above 3 per cent. A higher Canadian dollar and a slow first quarter for the US economy could bring that estimate lower once all data is in, but overall the Canadian economy seems to be improving following weak growth in 2015.

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