GDP hit wall in February after January boost, says StatsCan

Statistics Canada says that the Canadian economy began in January, but the first signs suggest that growth hit a wall in February.

The agency states that the real gross domestic product has increased by 0.4 percent in January, thanks largely to a boom in the oil industries and gas and mines.

The industries that produce Canadian assets were particularly hot in January, increasing by 1.1 percent for their largest one -month jump in over three years.

Statscan states that a slowdown in retail trade weighed on the GDP at the beginning of 2025, following a strong growth in December.

The agency’s first estimates have a growth substantially unchanged in February while the Canadian economy has prepared for rates from the United States.

The President of the United States Donald Trump is targeting cars made outside the United States in his latest round of rates announced on Thursday.