Canadian Economy Loses Steam After Strong Start to Year, Grows 0.2% in February

A Statistics Canada sign is pictured in Ottawa on July 3, 2019. The Canadian Press/Sean Kilpatrick

The Canadian economy lost momentum after a roaring start to the year, reinforcing economists’ expectations that the Bank of Canada is on track to cut interest rates in the coming months.

Statistics Canada reported on April 30 that real gross domestic product rose 0.2 percent in February. That followed a 0.5 percent gain in January.