Canada February GDP 1.1% versus 0.8% estimate

• Prior month 0.2%
• Goods producing 1.5% versus last month 0.8%
• Services 0.9% versus 0.0% last month
• 16 of 20 sectors expanded in February in broad based increases
• The advanced reading for March 0.5% (last month they forecast 0.8% gain)
• Accommodation and food services jumped 15.1% in February offsetting most of the two month declines as a result of lockdowns
• transportation and warehousing rose 3.1% in February
• arts and entertainment and recreation increased 8.5% following two months of declines
• construction spending expanded by 2.7% in February for the second gain in a row
• real estate and rental and leasing sector rose 0.4% in February
• professional, scientific and technical services rose 1.0%
• finance and insurance rose 0.4%. That is the ninth month in a row for gains
• mining, quarrying, and oil and gas extraction grew 3.4%. This was the largest monthly growth rate since December 2020
• utilities fell -2.3% after January 4.1% gain.
• Wholesale trade fell -1.1% as five of nine subsectors were lower. Personal household goods wholesaling -5.6% contribute to most of the declines on the back of lower imports of pharmaceuticals.
• Retail trade fell -0.2% after a strong 3.0% gain in January. Excluding motor vehicles and parts of dealers, retail trade was up 0.8%. Motor vehicles and parts fell -5.5%. Clothing and accessories rose 9.7%

The day was very strong across the board but comes off of Covid lockdown measures in harsher winter weather. The expectations for
door for a another gain of 0.5%.

Of the 14 industries, 11 were up for the month with utilities, wholesale, and retail the only decliners

/Inflation