Canada February 2009 GDP Highlights

April 30th, 2009 Posted in Canada|Global Economy

It was a rainy and foggy day in Toronto. Left work (I work in downtown Toronto) at 5.00, hit the gym at 6.00, and reached home at 8.00. From my home office in my condo, I have a full view of Toronto. However, I can’t see out the window as it’s too foggy. We got Canadian GDP (Gross Domestic Product) out today and it is showing little signs of improvement. In February, GDP went down -0.1%. This is a lot better than January’s -0.7 decline.

Construction spending and industrial production were to blame for most of the decline. Although motor vehicle manufacturing rose 19%, it was not enough to outweigh declines in construction mining sectors. Oil and gas extraction and tourism industry advanced well. Public sector, financial and insurance sector remained unchanged. If you are interested knowing more, visit Statistics Canada website. I will come back with  a new post on the weekend. Thanks.

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