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OTTAWA, April 28 The Canadian economy stalled in
February after robust growth in January as gains in
service-producing industries were offset by declines in the
goods sector, Statistics Canada said on Friday.
Gross domestic product was flat, matching the forecast by
analysts in a Reuters poll.
Service-providing industries advanced by 0.2 percent on
strength in the real estate and rental and leasing sector, as
well as the finance and insurance sector.
Goods-producing industries declined by 0.3 percent on weaker
manufacturing as well as mining, quarrying and oil and gas
The Bank of Canada, which cut interest rates twice in 2015
and has stressed the downside risks to the economy, predicted on
April 12 that first quarter annualized growth would be 3.8
The 0.6 percent growth recorded in January means that even
if the economy remains flat in March, annualized first quarter
growth will come in at around 4.2 percent, a Statscan analyst
(Reporting by David Ljunggren Editing by W Simon)