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- Canadian GDP rose 0.2% in April, as expected
Canadian GDP rose 0.2% in April, as expected
After increasing 0.5% in March, real gross domestic product (GDP) rose 0.2% in April as 14 out of 20 sectors grew.
Service-producing industries increased 0.3% on widespread growth across sectors. Goods-producing industries were essentially unchanged as growth in mining, quarrying, and oil and gas extraction was largely offset by a decline in manufacturing.
The mining, quarrying, and oil and gas extraction sector (+1.2%) grew for the third time in four months in April. Support activities for mining and oil and gas extraction registered double-digit growth for a second consecutive month, increasing 11% as both drilling and rigging services expanded.
Oil and gas extraction declined 0.8% in April as a decrease in non-conventional oil extraction more than offset growth in conventional oil and gas extraction. The decline in non-conventional oil extraction in April was largely the result of ongoing production difficulties at an upgrader facility in Alberta, following a fire and explosion there in March.
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