Canada's GDP declines 0.1% in January

Market news

31 March 2015

Canada's GDP declines 0.1% in January

Statistics Canada released GDP (gross domestic product) data on Tuesday. Canada's GDP decreased 0.1% in January, missing expectations for a 0.2% gain, after a 0.3% rise in December.

The decrease was driven by a decline in the services sector. Service-sector output was down 0.3% in January. It was the first decline since February 2014.

Resource-sector output rose by 1.4% in January as oil-and-gas extraction climbed 2.6%.

Manufacturing output fell 0.7% in January.

U.S.: Chicago Purchasing Managers' Index , March 46.3 (forecast 52.5)

U.S. Stocks open: Dow -0.48%, Nasdaq -0.37%, S&P -0.41%

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