The pace of growth in the Canadian economy was likely slowing down through the first quarter of the year, according to early estimates Statistics Canada.
The agency estimates real gross domestic product (GDP) grew 0.6 per cent in the quarter, or 2.5 per cent on an annualized basis.
Meanwhile, February saw GDP growth slow to 0.2 per cent, down from 0.5 per cent in January, StatCan said.
Early estimates from the agency released in March had initially expected real GDP grew at a pace of 0.4 per cent in February.
The entirety of the growth in February came from services-producing sectors, while goods-producing industries were essentially unchanged, the agency said.
StatCan’s early estimates for March also show economic growth was essentially unchanged in the month, though the agency cautions these figures can be revised.
Official first-quarter estimates will be available at the end of May.
More to come…