World Economy

Canadian GDP Growth Stalls

Canadian GDP Growth StallsCanadian GDP Growth Stalls

Saturday’s release of Canadian GDP data revealed that the economy stalled during the second month of 2015, Investing .com reported. In addition, Statistics Canada revised January’s figures downward to –0.2%, which underscores the fact that Canada’s economy is having a hard time getting out of the gate in 2015, and it’s quite possible that it will post its worst quarter in the past three years. Analysts explained that the flat reading is related to temporary factors such as the bad weather and automobile plant closures in Ontario. The effects of the oil shock are still being felt, however, as shown by the major 15% contraction in the oil and gas production support services industry.