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June 01, 2018

Canada's gross domestic product increased 0.3% in March

Statistics Canada announced that the country's gross domestic product (GDP) increased 0.3% in March as 15 of 20 industrial sectors grew, led by the mining, quarrying, and oil and gas extraction sector.

According to the Federal agency, the output of goods-producing industries expanded 0.6%, mostly attributable to mining, quarrying, and oil and gas extraction. Manufacturing edged up while construction edged down.

Services-producing industries were up 0.2%, as increases in most sectors more than offset a decline in the finance and insurance sector.

Transportation and warehousing rose 0.8% in March. Pipeline transportation rose 5.6%, following a 0.8% decline in February. Rail transportation increased 0.2% following two months of decline. Air transportation (+0.5%) rose for a third consecutive month, while truck transportation increased 0.4%.