OTTAWA — Statistics Canada estimates the financial system grew at an annualized charge of 6.5 per cent within the first quarter of the 12 months.
The preliminary estimate for the primary three months of the 12 months compares with development at an annualized charge of 9.6 per cent over the past three months of 2020.
Statistics Canada says the financial system grew 0.4 per cent in February and estimated development of 0.9 per cent for March.
Service industries which have been hard-hit via the course of the COVID-19 pandemic confirmed a small achieve in February, whereas goods-producing industries had a small contraction for the primary time since final April.
With the achieve in February, general financial exercise was about two per cent under the degrees seen pre-pandemic in February 2020.
Considering the preliminary numbers for March, Statistics Canada estimates the financial system final month was roughly one per cent under pre-pandemic ranges.
This report by The Canadian Press was first revealed April 30, 2021.
The Canadian Press