Canada’s GDP beats expectations with 0.3% growth in April
The Canadian economy grew more than expected in April, helped by the oil and gas sector.
Economists had expected growth of 0.1 per cent for April, according to Thomson Reuters Eikon.
The mining, quarrying and oil and gas extraction sector gained 4.5 per cent, boosted by a 5.5 per cent rise in oil and gas extraction.
Oilsands extraction increased 11.0 per cent, while oil and gas extraction, excluding oilsands, was up 0.5 per cent.
The manufacturing sector pulled back 0.8 per cent, in April, the largest monthly contraction since August 2017.