Canadian GDP bounces up in April
Real Gross Domestic product has bounced up in April reversing losses posted in March, thanks to increases in manufacturing, wholesale and retail trade, according to data released by Statistics Canada.
GDP posted a 0.4% increase in April, following two consecutive months of declines. One of the main reasons behind April’s GDP growth has been the 1.9% increase in manufacturing production, following two months of declines. Wholesale and retail activity rose 2.1% in April.
On the negative side, energy output declined 1.1%, oil and gas extraction contracted 1.7%. Excluding oil and gas, the output of the mining sector increased 0.9%. Construction activity fell 0.7%.
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