WRAPUP 3-Growth rebound may herald Canada's economic spring

Tue Apr 30, 2013 2:35pm EDT
 
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* February GDP growth of 0.3 pct beats estimates

* Q1 growth now seen closer to 2 pct annualized

* Bank of Canada still seen holding rates steady

* Producer prices lifted by weaker C$ in March

By Louise Egan

OTTAWA, April 30 (Reuters) - Canada's economy delivered a welcome surprise in February, growing faster than expected and prompting economists to upgrade their forecasts for the first quarter, although none expect the central bank to raise interest rates any time soon.

Monthly gross domestic product grew 0.3 percent, Statistics Canada said Tuesday, while also revising upward its growth estimate for January, to 0.3 percent from 0.2 percent.

It cited the potash mining, oil and gas and manufacturing sectors as the main sources of strength.   Continued...