Potash mining, oil and gas and the manufacturing sector were the main sources of strength for the Canadian economy in February, with the country’s GDP growing 0.3%, Statistics Canada said Tuesday.
Mining, quarrying, and oil and gas extraction increased 2.2% in February, the fifth consecutive month of growth. Excluding oil and gas extraction, the federal agency highlighted the mining sector contribution to Canada’s GDP grew 6.4% as a result of a significant increase in output at potash mines, as well as coal and metallic minerals.
Manufacturing climbed 0.8% following January’s 0.6% increase and most other categories made small contributions to Canada’s February GDP.
In a separate report, the agency said its index of raw-materials prices paid by manufacturers unexpectedly fell 1.7% in March led by crude oil, which decreased 2%. Compared with a year earlier, raw materials were down 2%.
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