FX.co ★ Canada GDP Set to Grow 0.4% in Q1

In March 2025, preliminary estimates indicate a 0.1% rise in Canada's GDP from the previous month. This growth is attributed to advancements in sectors such as mining, quarrying, oil and gas extraction, retail trade, and transportation and warehousing, which helped counterbalance decreases observed in manufacturing and wholesale trade. Should these figures be validated, they would imply a 0.4% GDP growth for the first quarter of 2025. Conversely, February 2025 saw a 0.2% decline in GDP from January, partially negating January's 0.4% growth. Specifically, there was a 0.6% reduction in goods-producing industries, driven by a 2.5% decrease in mining, quarrying, and oil and gas extraction, alongside a 0.5% dip in construction. Meanwhile, service-producing industries experienced a slight 0.1% downturn, with contractions in transportation and warehousing as well as real estate and rental and leasing being partly offset by a 0.7% increase in the finance and insurance sector.