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GDP remained essentially unchanged in April

By Brad Perry Jun 30, 2023 | 10:11 AM

There was little change in Canada’s economy during the month of April, according to Statistics Canada.

Goods-producing industries edged up 0.1 per cent, while services-producing industries were essentially unchanged.

“Overall, 11 of 20 industrial sectors posted increases,” StatCan said in its monthly report released Friday.

Wholesale trade contracted 1.4 per cent in April, marking the third consecutive monthly decrease.

The miscellaneous merchant wholesalers contributed the most to the decline, while motor vehicle and motor vehicle parts and accessories wholesales partially offset declines.

Manufacturing was down 0.6 per cent, marking the first decrease in four months, as both durable and non-durable goods manufacturing contracted during the month.

Mining, quarrying, and oil and gas extraction grew for the fourth consecutive month, up 1.2 per cent, led by oil and gas extraction.

Public sector activity contracted 0.3 per cent due to a strike by federal government workers represented by the Public Service Alliance of Canada.

The construction activity sector grew 0.4 per cent in April. According to StatCan, lower residential building construction was more than offset by broad-based increases in other construction types.

Real estate and rental and leasing grew 0.5 per cent — the largest increase since December 2020 — amid higher home sales.

Transportation and warehousing was up for the second straight month, posting an increase of 0.4 per cent.

StatCan said early indications show the country’s GDP increased 0.4 per cent in the month of May.

The estimates will be updated when the official GDP data for the month is released in late July.

You can view the full report on Statistics Canada’s website.


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