Canadian Manufacturing

Statistics Canada says real GDP grew 0.3% in April, tops expectations

Economists had expected growth of 0.1%

OTTAWA—The Canadian economy grew more than expected in April, helped by the oil and gas sector.

Statistics Canada says real gross domestic product grew 0.3% in April, following a 0.5% increase in March.

Economists had expected growth of 0.1% for April, according to Thomson Reuters Eikon.

The mining, quarrying and oil and gas extraction sector gained 4.5%, boosted by a 5.5% rise in oil and gas extraction.

Oilsands extraction increased 11.0%, while oil and gas extraction, excluding oilsands, was up 0.5%.

The manufacturing sector pulled back 0.8%, in April, the largest monthly contraction since August 2017.

News from © Canadian Press Enterprises Inc. 2020

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