Statistics Canada to release February GDP report, Q1 growth estimate today

Statistics Canada is set to release its February gross domestic product report today, along with a preliminary estimate for economic growth during the first three months of the year.

RBC says it expects the economy grew by a modest 0.1 per cent in February, lower than the consensus expectation of 0.3 per cent.

Canada has so far averted a recession that many economists feared would happen after the Bank of Canada began its aggressive rate-hiking cycle. 

Strong population growth has helped bolster the economy, even as high interest rates slow consumer demand and business investment.