In this edition:
- GDP grows 0.2% in February as goods-producing industries lead gains
- Canada selected to headquarter new multinational defence bank, sources say
- FACS Niagara takes over Niagara Falls shelter for youth in care
- New RESCON report indicates that housing starts and industry jobs continue to decline
- Payroll employment falls in February as job vacancies hold steady
- Ontario looks to diversify global trade links
- Focus on Retail
Did you know you can get the GNCC’s Daily Update emailed to you? Click here to sign up.
Picture credit: THINK B / Adobe Stock
GDP grows 0.2% in February as goods-producing industries lead gains
Canada’s real gross domestic product rose 0.2% in February, with goods-producing industries driving growth for the second consecutive month, Statistics Canada reported Thursday. Manufacturing led the increase, rising 1.8%—its strongest monthly gain since January 2023—supported by a rebound in durable goods, machinery, and motor vehicle and parts production as Ontario auto plants ramped up after January shutdowns.
Goods-producing industries grew 0.4%, while services edged up 0.1%, helped by gains in wholesale trade, transportation and warehousing, finance and insurance, and mining, quarrying, and oil and gas extraction. Public sector activity fell 0.3%, while arts, entertainment and recreation declined 2.5%, partly reflecting lower spectator sports activity during the NHL’s Olympic break. Statistics Canada’s advance estimate indicates GDP was essentially unchanged in March, with the economy expanding 0.4% in the first quarter of 2026.
Picture credit: JHVEPhoto / Adobe Stock
Canada selected to headquarter new multinational defence bank, sources say
Canada has been selected to headquarter the multinational Defence, Security and Resilience Bank (DSRB), sources have told Radio-Canada.
The DSRB is a multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations.
Three sources familiar with the matter, but not authorized to speak publicly, told Radio-Canada that Canada was selected to host the new bank. The Globe and Mail first reported the news.
Picture credit: FACS Niagara
FACS Niagara takes over Niagara Falls shelter for youth in care
FACS Niagara has taken over the former Nightlight Shelter in Niagara Falls to create a new home for youth in their care.
The property at 5519 Ontario Ave., Niagara Falls will be named Tilling’s Safe Landing for Youth, in honour of a donation from the The Canadian Tilling Foundation.
Picture credit: Framestock / Adobe Stock
New RESCON report indicates that housing starts and industry jobs continue to decline
A new report done for the Residential Construction Council of Ontario (RESCON) indicates that housing starts decreased dramatically in 34 municipalities studied across the province in 2025, while job losses in the industry continue to grow.
The analysis revealed that condo apartment starts were down 52 per cent relative to the 2021-24 averages, while ground-oriented housing starts declined 43 per cent, showing that housing weakness in municipalities – with a few exceptions – continues to extend well beyond the condo market.
Photo credit: Tamara Sales / Adobe Stock
Payroll employment falls in February as job vacancies hold steady
Canadian payroll employment fell by 60,200 jobs, or 0.3%, in February, reversing part of January’s gain, while year-over-year payroll employment was virtually unchanged, Statistics Canada reported Thursday. The decline was led by transportation and warehousing, administrative and support services, retail trade, construction, and accommodation and food services, with payroll employment down in 10 sectors and little changed in the remaining 10. Ontario and Quebec recorded the largest year-over-year declines in vacancies, while Alberta was the only province to see an increase.
Picture credit: Виталий Сова / Adobe Stock
Ontario looks to diversify global trade links
Ontario is stepping up efforts to diversify its international trade relationships and reduce reliance on the U.S. market, with Premier Doug Ford, Economic Development Minister Vic Fedeli and parliamentary assistant Will Bouma hosting a roundtable with 16 senior diplomatic representatives from Europe, Asia and South America.
The province said non-U.S. exports have increased by nearly 75% since 2018 and nearly 28% over the past year, while two-way trade has grown significantly with key markets including the United Kingdom, the United Arab Emirates, Singapore and the Netherlands.
Focus on Retail
The end of anchors: how Canadian malls are being rewritten
Craig Patterson, Retail Insider
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
