Sun, 24 Sep 2023

Canada's real GDP grows 0.2 pct in April

01 Jun 2023, 02:18 GMT+10

OTTAWA, May 31 (Xinhua) -- Canada's real gross domestic product (GDP) grew 0.2 percent in April and 0.8 percent in the first quarter this year, Statistics Canada announced Wednesday.

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, the statistical agency said in its advance estimates.

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 percent 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.

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