Canada's Economy Booming

The Canadian economy added five times as many jobs as expected in February, surprising nearly everyone.

Statistics Canada said on Friday that the economy added 43,300 jobs last month, defying market forecasts of a more tepid gain of 8,000 amid signs of softer growth. The unemployment rate remained unchanged at a 33-year low of 5.8 percent.

The news sent the Canadian dollar flying to a one-week high against the U.S. dollar and left economists scratching their heads.

"Mind boggling," said Derek Burleton, senior economist at Toronto-Dominion Bank. "I'm obviously a little shocked right now," he told Reuters.