Canadian GDP Expands 0.1% In April

Canada’s economy expanded by 0.1 per cent in April, beating expectations of a flat showing, as manufacturing, utilities and other sectors grew.

Statistics Canada reported Friday that goods-producing industries grew by 0.2 per cent during the month, while the service sector was flat. Together that added up to a 0.1 per cent increase overall, better than the flat showing that economists had been anticipating.

USD/CAD for June 29, 2018.

USD/CAD for June 29, 2018.

After contracting in January, Canada’s economy has now grown for three months in a row.

Manufacturing showed some of the strongest gains, including a 2.8-percent increase in machinery manufacturing, a 4.8-percent increase in non-metallic mineral products and a 2.7-percent increase in primary metals.

Output of food products also increased by 4 percent.

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