Canada’s economy posted no growth in April following a slight increase of 0.1% in March, according to the latest data from Statistics Canada.
The federal agency said that real gross domestic product (GDP) in Canada was essentially unchanged in April. Economists had expected the economy to expand 0.2% during the month.
Goods-producing industries across the country increased their economic output by 0.1%, but that gain was offset by services-producing industries that posted flat or no growth in the month.
In all, 11 of 20 industrial sectors in Canada posted economic increases during April, said StatsCan.
Preliminary estimates show that Canada’s real GDP increased 0.4% in May, though that figure is subject to revision.
Mining, quarrying, and oil and gas extraction grew 1.2% in April, which was the fourth consecutive month of growth in that economic sector. Oil and gas extraction led the growth with a 2.1% expansion.
In April, Canada’s public sector experienced its first decline since January 2022, contracting by 0.3%. While educational services and healthcare remained flat, public administration recorded a 1% decrease in economic output during the month.
Construction activity across Canada grew 0.4% in April, as lower activity in residential building construction was offset by increases in other types of construction.
The real estate and rental sector grew for a sixth consecutive month in April, expanding 0.5%, its largest growth rate since December 2020.
Wholesale trade contracted by 1.4% in April, as wholesaling activity declined in six of nine subsectors. It was the third consecutive month of decline in that sector of the economy.
Motor vehicle and parts sales rose 2.6% in April. However, the manufacturing sector as a whole declined 0.6%, down for the first time in four months.
Non-durable and durable goods manufacturing each decreased 0.6% in the month, while transportation and warehousing rose 0.4% during April.
