Cdn economy contracts

Photo: Zurich Financial

Statistics Canada says the economy dipped in February after four consecutive months of growth.

The federal agency says real gross domestic product edged down 0.1 per cent in February.

The result matched the expectations of economists, according to Thomson Reuters.

Statistics Canada says the output of goods-producing industries fell in February, while the service sector was essentially unchanged.

Goods-producing industries contracted 0.6 per cent in the month, due to lower results in manufacturing and mining, quarrying, and oil and gas extraction.

The service side of the economy saw a drop in wholesale sales offset by gains in retail sales as well as the public sector and accommodation and food services.