Canada's GDP dips in February

April 30, 2012 at 9:45 AM
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OTTAWA, April 30 (UPI) -- Canada's gross domestic product declined by 0.2 percent in February, led by decreased mining and oil and gas activity, Statistics Canada reported Monday.

Overall mining declined 7 percent, with output at potash and nickel mines reduced by temporary shutdowns, the report said.

Oil and gas extraction was down by 0.9 percent.

Other decreases were seen in manufacturing, which was down 1.2 percent, and the output of utilities fell 1.9 percent, the report said.

The decliners offset the gains in other sectors.

"Construction rose 0.5 percent in February, with increases in residential and non-residential building construction as well as in engineering and repair work," StatsCan said. "The output of real estate agents and brokers increased 1.1 percent in February on increased activity in the home resale market."

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