StatCan to release February GDP numbers this morning, estimate for first quarter

OTTAWA –

Statistics Canada is ready to launch its February studying for financial progress this morning.

The federal company can even present estimates for March and the primary quarter of the yr.

After recording zero progress within the fourth quarter, the Canadian economic system bounced again in January as actual gross home product grew by 0.5 per cent.

Statistics Canada’s preliminary estimate for February suggests the economic system grew by 0.3 per cent.

However, RBC says it expects progress to come back in decrease than the federal company’s estimate resulting from decrease manufacturing sale volumes, in addition to a fall in wholesale and retail gross sales.

The Bank of Canada’s aggressive fee hikes are anticipated to sluggish the economic system this yr, as excessive borrowing prices constrain spending.

This report by The Canadian Press was first revealed April, 27, 2023