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Economy grew 1.1% in February, best month since March 2021: Statistics Canada

Economy grew 1.1% in February, best month since March 2021: Statistics Canada

OTTAWA — Statistics Canada says real gross domestic product rose 1.1 per cent in February to post its largest monthly gain since March 2021.

The agency also says its early estimate for March this year indicated a gain of 0.5 per cent for the month.

For February, Statistics Canada says services-producing industries gained 0.9 per cent, while goods-producing industries rose 1.5 per cent.

The accommodation and food services sector soared 15.1 per cent in February as pandemic-related restrictions put in place in December and January were eased.

Transportation and warehousing gained 3.1 per cent, while the arts, entertainment and recreation sector added 8.4 per cent for the month.

The construction sector climbed 2.7 per cent higher in February.

 

© 2022 The Canadian Press

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