Canadian GDP Seen Unchanged in March

The Canadian gross domestic product remained unchanged from the previous month in March of 2026, according to a flash estimate. Increases in wholesale trade and transportation and warehousing were offset by decreases in retail trade and mining, quarrying, and oil and gas extraction. Canadian GDP expanded by 0.2% in February 2026 from the previous month, matching estimates. Manufacturing led growth, rising 1.8% on a 3.6% expansion in durable-goods industries, the largest monthly gain since January 2023. Mining, quarrying, and oil and gas extraction grew 0.4% as oil and gas extraction recorded its second consecutive monthly increase and mining and quarrying (except oil and gas) added 1.2%. Wholesale trade rose 0.9% and transportation and warehousing increased 1.2%. Advance data shows the economy is expected to grow 0.4% in Q1 2026.

The Canadian gross domestic product expanded by 0.2% from the previous month in February of 2026, according to a flash estimate. This was supported by higher output in manufacturing, mining, and quarrying, and financial services, which offset contractions for agriculture and forestry. The expansion is set to extend the 0.1% growth rate from January, which was upwardly revised from the initial estimate of a stall. Growth was carried by goods producing industries (0.2%) as higher construction (2.2%) and mining and quarrying (1.2%) offset the drop for manufacturing (-1.4%). In turn, services producing industries stalled. Output increased in finance and insurance (0.5%), and retail trade (0.8%), offsetting the contraction for wholesale trade (-1.2%) and transportation and warehousing (-0.7%), which was pressured by extreme weather conditions that prevented logistics.

The Canadian GDP was unchanged from the previous month in January of 2026, according to an advance estimate. If confirmed, the stall would follow by a 0.2% expansion in the final month of 2025, revised higher from the preliminary estimate of 0.1%, which softened the 0.2% contraction in the Canadian GDP during the fourth quarter of the year. Output from goods producing industries rose by 0.2% in December amid a 1.2% expansion for manufacturers, trimming sharp losses from the two previous months. Output was also higher for utilities (1.2%) and construction (0.3%), offsetting the drop for mining, quarrying, and energy extraction (-0.9%). Output also rose 0.2% for services, with a 1.7% expansion in wholesale trade and a 0.4% increase in financial services.