Statistics Canada announces the Gross Domestic Product by industry, February 2006 & review of wholesale trade 2005, are as follows:
Canadian economy grew by 0.2 percent in February, the same pace as in the previous month.
While economic activity was bolstered by a rebound in utilities and strength in wholesale sales, it was slowed by a drop in output in the mining and oil and gas extraction sector and in manufacturing.
Wholesale trade main sources of decline came from a steep drop in apparel sales, as well as from a decrease in sales of machinery and equipment.
Production of clothing and shoes has increased $21.5 billion in 2006 compared to 2005.
The drop in natural gas extraction was attributable to mild weather conditions, which have kept existing inventories at much higher levels than usual.
Industrial production (the output of factories, mines and utilities) remained unchanged in February.
The marked drop in mining activity (including oil and gas extraction) and the slowdown in manufacturing output were offset by a strong upswing in utilities.
In the United States, industrial production grew 0.5 percent, with a strong advance in utilities partially offset by a reduction in mining and manufacturing output.
Manufacturing output fell 0.4 percent in February. Of the 21 major groups, 11 registered declines, accounting for 49 percent of total manufacturing output.
The overall output of non-durable goods receded 1.7 percent. Except for beverages and tobacco products and leather and allied products, all major non-durable groups declined.
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