Canadian Manufacturing

Manufacturing, utilities helped economy tick up 0.1 per cent in April

The overall gain for April comes ahead of what is expected to be a weak May due to the forest fires in Alberta that forced the shut down of several oilsands operations



OTTAWA—Statistics Canada says the economy grew 0.1 per cent in April after shrinking in February and March.

The result matches economist expectations, according to Thomson Reuters.

Gains in manufacturing, utilities and the public sector helped drive the growth in real gross domestic product, offset by a drop in non-conventional oil extraction.

Service-producing industries rose 0.2 per cent in April, after being essentially unchanged in March, while goods-producing industries pulled back 0.1 per cent for the month.

Mining, quarrying, and oil and gas extraction fell 1.4 per cent, the third consecutive month the sector has pulled back.

The main reason for the drop was a 2.4 per cent drop decline in oil and gas extraction, as output from non-conventional oil extraction fell 7.3 per cent due to maintenance shutdowns at upgrader facilities. Conventional oil and gas grew 1.7 per cent.

The overall gain for April comes ahead of what is expected to be a weak May due to the forest fires in Alberta that forced the evacuation of Fort McMurray and the shut down of several oilsands operations.

Related Posts from the network