CANADA APR GDP +0.5%, MOST SINCE LAST JULY, VS EXPECTED +0.4%
Jun-30 12:30
CANADA APR GDP +0.5%, MOST SINCE LAST JULY, VS EXPECTED +0.4%
CANADA MAY FLASH GDP +0.1% LED BY FINANCE AND REAL ESTATE
CANADA APR GDP ROSE IN 14 OF 20 SECTORS LED BY ENERGY-STATSCAN
CANADA APRIL YOY GROSS DOMESTIC PRODUCT +1.1%
CANADA DATA: Flash May GDP +0.1%, April +0.5% Beats Expected 0.4%
Jun-30 12:30
The Canadian economy is expected to grow 0.1% in May according to Statistics Canada's advance estimate in Tuesday's monthly GDP release.
GDP growth was 0.5% in April, beating StatsCan's flash estimate of 0.4%, following a surprise 0.1% decline in March.
April's strong report was led by a 3.7% jump in oil and gas extraction, which made up about half of the overall GDP increase. The remaining growth was broad-based with 14 of 20 industrial sectors rising on the month.
The construction industry was a notable contributor, rising for the first time in five months on both residential and non-residential. Manufacturing also rebounded 0.6% following a slight decrease in March.
Wholesale trade, agriculture and forestry were some of the few industries that declined in April.