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Canada’s economy grows 0.3% in April

By Brad Perry Jun 28, 2024 | 9:55 AM

Canada’s economy grew in April after remaining unchanged the previous month.

Statistics Canada said real gross domestic product (GDP) increased by 0.3 per cent.

The latest report, released Friday, shows rebounds in several industries contributed to the gain.

Wholesale trade, manufacturing, and mining, quarrying, and oil and gas extraction led the way.

Retail trade was also among the top drivers after two consecutive monthly drops.

Meanwhile, the construction sector was down in April as residential building construction contracted.

Looking ahead to May, advance estimates from StatCan suggest real GDP rose just 0.1 per cent.

Increases in manufacturing, real estate and rental and leasing, and finance and insurance were partially offset by decreases in retail trade and wholesale trade.

Official numbers for the month of May will be released on July 31.