[Canada’s Economy Posts Moderate Growth in January, Q1 Pace Likely to Beat Forecasts]

Published: Mar 31, 2026 21:38

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Real GDP rose 0.1% in January, with an advance estimate of 0.2% in February, Statistics Canada said Tuesday. Growth was driven by the goods-producing sector, which expanded 0.2% for a second straight month, as gains in mining and oil and gas extraction offset a decline in manufacturing. Motor vehicle and parts manufacturing fell 10.8%—the largest drop since September 2021—as winter plant shutdowns extended into January, dragging auto output down 23.5% and wholesale trade down 1.2%. If March growth is flat, the economy is on track to expand at an annualized rate of 1.5% in the first quarter, slightly above market expectations of 1.4%.

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