Overall, 12 of the 20 sectors monitored by Statistics Canada recorded an increase in February. (Photo: The Canadian Press)
Ottawa – Real gross domestic product (GDP) in Canada rose 0.2% in February, mainly due to growth in the transportation sector, Statistics Canada said Tuesday.
This is the second consecutive monthly increase in real GDP, which grew by 0.5% in the country in January.
According to the federal agency, the increase observed in February was largely due to the 1.4% increase in the transportation and warehousing sector, which recorded the highest monthly growth rate since January 2023.
This sector benefited from the recovery in rail transport (+5.5%) as activity returned to normal following the extreme cold snap in Western Canada in January.
In addition, air traffic grew 4.8% in February, the highest growth rate since May 2022, as airlines added more flights to Asia to meet demand ahead of the Lunar New Year.
Overall, 12 of the 20 sectors monitored by Statistics Canada recorded an increase in February.
The utilities sector was one of those that declined, falling 2.6% in February.
This decline partially offset a 3.2% increase in January, when the cold snap in Western Canada increased demand for heating.
In its preliminary forecast, Statistics Canada said real GDP remained essentially unchanged in March.
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