Canada GDP unexpected dropped -0.1% mom in February, worse than expectation of 0.0% mom. Looking at some details, mining, quarrying and oil and gas extraction sector declines (-1.6%) for the sixth consecutive month. All subsectors decline. Transportation and warehousing contract as rail transportation drops -1.6%, largest fall since June 2011. That’s largely due to a 10.8% drop in rail transportation. Finance and insurance sector declined -0.6%., Manufacturing sector contracted -0.4%. Though, utilities were up 1.5% due to record-setting cold weather in Western Canada. Construction grew for the second month by 0.2%. Also from Canada, IPPI rose 1.3% mom, RMPI rose 2.8% mom in March.
