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Canada’s GDP Contracts in February

Canada’s gross domestic product shrank by 0.1% in February compared to January, following predictions of a flat month. Durable manufacturing contracted 0.4% from the prior month, mainly due to a 4.2% decline in the wood products sector.  The furniture and related products sector shrank 6.3% in February. Construction activity, however, increased for the second month in a row after seven months of decline.  Extreme cold weather and a major train derailment that disrupted transportation was to blame for declines in many sectors.  See Statistics Canada and CBC

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