Canada’s real GDP grew 0.2% in April

Canada’s real GDP grew 0.2% in AprilJune 1, 2023

Ottawa, June 1 (IANS) Canada’s real gross domestic product (GDP) grew 0.2 per cent in April and 0.8 per cent in the first quarter this year, the statistical agency said in its advance estimates.

Statistics Canada said that the mining, quarrying, oil and gas extraction, transportation and warehousing sectors, as well as the offices of real estate agents and brokers, and the other activities related to real estate industries rose in April, but the increases were partially offset by decreases in the wholesale and retail trade and public administration sectors, Xinhua news agency reported.

Real GDP rose in the first quarter after posting no change in the previous quarter.

Favourable international trade and growth in household spending were moderated by slower inventory accumulations as well as declines in housing investment and business investment in machinery and equipment.

Canada’s real GDP was essentially unchanged in March, following a 0.1 per cent increase in February.

Service-producing industries were flat, whereas goods-producing industries edged down.

Overall, 12 of 20 industrial sectors posted increases in March, according to Statistics Canada.

–IANS

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