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Economy grew 0.4% in February, boosted by resource sector: Statistics Canada

Rebound in the mining and oil and gas extraction sector, gains 2.4% for the month.

May 1, 2018   by CP STAFF

OTTAWA — Statistics Canada says the economy grew 0.4 per cent in February after a slight pullback of 0.1% in January.

The agency says the growth was led by a rebound in the mining and oil and gas extraction sector, which gained 2.4% for the month.

Overall, 15 of 20 industrial sectors saw growth.

Goods-producing industries grew 1.2% as manufacturing and construction rose in addition to the rebound in mining and oil and gas extraction.

The manufacturing sector rose 1.0 per in February, while the construction sector gained 0.7%.

Meanwhile, the services-producing side edged up 0.1%, hurt by declines in wholesale trade and in the real estate and rental and leasing sector.

 

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