Canadian Monthly GDP (February)
The Canadian economy bounced back in February after a down month in January. Real GDP grew 0.4 per cent on a monthly basis in February, led by higher output in the manufacturing and construction sector as well as a rebound in mining and oil and gas extraction. The output of offices of real estate agents and brokers across Canada fell for a second consecutive month due to the ongoing impact of the B20 stress test.
Given today's release, growth in the Canadian economy is tracking at just under 2 per cent for the first quarter of 2018. Continued above trend growth and rising inflation signal further interest rates increases by the Bank of Canada, possibly as soon as the end of May.
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