Canada GBP for February 2021
- Monthly GDP 0.4% versus 0.5% estimate. Last month +0.7%
- YoY GDP -2.2% versus -2.3% estimate. Last month -2.3%
- 14 of the 20 sectors were higher
- this is the 10th consecutive monthly increase, although economic activity is 2% below the level observed in February 2020
- services +0.6%
- goods producing industries -0.2% for the first time since April
- preliminary information indicates an approximate 0.9% increase in real GDP for March
- retail trade +4.5% following two months of declines. 10 of the 12 sectors were up in February as a result of using of lockdown measures with clothing and clothing accessories up 23.5%, sporting goods, hobby, booking music stores +28.2%, and home and furniture up 11.7%
- construction rose 2.0% February with all subsectors up
- mining quarrying and oil and gas extraction fell for the first time in six months at -2.8% with two of three subsectors contracting
- manufacturing felt -0.9% versus 1.5% gain in January. Both durable and nondurable manufacturing were down in February (durable -0.9% versus +2.2% in January. Nondurable -1.0% in February with four of nine subsectors down)
- professional services +1.2%
- public-sector +0.6%
- other industries +3.5% following five consecutive months of declines. Food services and drinking places rose 4.0%. Transportation fell -2.0%. Wholesale trade fell -1.0%. Utilities +1.3%. Finance insurance +0.4%
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The USDCAD has been consolidating near lows for the week and at the lowest levels since January/February 2018.
