Reuters: US Dollar Report: Canada says on track to meet budget despite GDP drop

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Canada says on track to meet budget despite GDP drop May 2nd 2012, 21:13 OTTAWA | Wed May 2, 2012 5:13pm EDT OTTAWA May 2 (Reuters) - The Canadian government is set to meet economic goals laid out in its March budget despite a surprise drop in gross domestic product in February, Finance Minister Jim Flaherty said on Wednesday. Statistics Canada said on Monday that the economy shrank by 0.2 percent in February from January. Analysts were expecting a 0.2 percent month-on-month increase. "I'm very cautious about looking at statistics that relate only to one month ... So far I'm comfortable the indicators that I see (show) that we're on track with our budget expectations," Flaherty told BNN television.

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