Statistics
Canada announced on Friday that the country’s gross domestic product (GDP) grew
0.3 percent m-o-m in April, following an unrevised 0.5 m-o-m advance in March.
That was below
economists’ forecast for a gain of 0.1 percent m-o-m.
According to
the report, goods-producing industries rose 0.4 percent m-o-m, while services-producing industries went up 0.2 percent m-o-m. The 20 industrial sectors were
nearly evenly split between gains and losses. Mining, quarrying and oil and gas
extraction climbed 4.5 percent m-o-m in April, while wholesale trade sector
increased 1.4 percent m-o-m and the construction sector rose 0.2 percent m-o-m.
At the same time, the manufacturing sector fell 0.8 percent m-o-m in April, recording
the largest monthly decline since August 2017, while retail trade and transportation
and warehousing edged down 0.1 percent m-o-m each.