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

June 28, 2019

by CP Staff

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.