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Statistics Canada marks an anticipated decline in economy

The Canadian economy fell by 0.1 per cent in February according to Statistics Canada, a drop that was expected by economists. Although February's figures indicated the current economic contraction, it was not as bad as the 0.
Northern Ontario Business Staff

 
The Canadian economy fell by 0.1 per cent in February according to Statistics Canada, a drop that was expected by economists.
Although February's figures indicated the current economic contraction, it was not as bad as the 0.7 per cent tumble seen in January or December's drop of one per cent.
Statistics Canada said economic activity has now declined by 2.4 per cent since October 2008.
During February 2009, a 19 per cent rise in motor vehicle and associated parts manufacturing was not enough to overcome declines in construction and mining, but it did help propel the overall manufacturing sector by one per cent.
Figures for the first quarter of 2009 are due to be released on June 1.