Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Statistics Canada says economy contracted 0.1% in February Goods-producing and services-producing industries both declined By The Canadian Press | April 30, 2019 | Last updated on April 30, 2019 1 min read Statistics Canada says the economy contracted in February after showing strong growth in January. The agency says gross domestic product pulled back 0.1% in February as both goods-producing and services-producing industries declined. Growth in January was 0.3%. Economists had expected no change in gross domestic product for February, according to Thomson Reuters Eikon. The mining, quarrying and oil and gas extraction sector fell 1.6% overall, with mining and quarrying down 4.4% and oil and gas extraction slipping 0.6%. Transportation and warehousing fell 1.6%, due to a 10.8% drop in rail transportation as cold weather, heavy snowfalls and a derailment in B.C. that closed an important rail line through the Canadian Rockies hurt the sector. The utilities sector gained 1.5% in February as cold temperatures contributed to higher demand for electric power generation, transmission and distribution and natural gas distribution. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo