Economy rebounds after contraction with 0.5 per cent growth in April: StatCan
Oil and gas, manufacturing and construction led broad gains as Statistics Canada said 14 of 20 industrial sectors grew in April.
- On Tuesday, Statistics Canada reported the economy rebounded in April with 0.5 per cent GDP growth, exceeding the 0.4 per cent estimate from Analysts and marking the largest monthly expansion in nine months.
- The April rebound follows a March contraction that dragged the first quarter into negative territory, while United States tariff impacts have remained contained within affected sectors and Mexico-Canada trade deal uncertainty has held back investment.
- Statscan reported that 14 of 20 industrial sectors grew in April, with mining, quarrying and oil and gas extraction rising 2.9 per cent and construction and manufacturing posting gains of 0.7 per cent and 0.6 per cent respectively.
- Services-Producing industries, which account for three-quarters of the GDP, grew 0.3 per cent in April, while Transportation and warehousing rose 0.9 per cent, marking the sector's second consecutive increase in three months.
- Statistics Canada's early estimate for May shows growth moderating to 0.1 per cent, as the Bank previously dismissed the technical recession at year-end as a one-off event rather than an entrenched downturn.
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Real GDP has grown the highest since July 2025, data which, according to economists, confirms that the country is not in recession.
Canada's GDP rebounds in April, posts 0.5% growth on monthly basis
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Canada's economy reverses months of slow growth with 0.5% boost in April
Canada's economy showed signs of rebounding by growing 0.5 per cent in April, reversing months of slow and negative economic growth. Real gross domestic product is up half a percentage point largely because of growth in the mining, quarrying, and oil and gas extraction sectors, Statistics Canada said in its latest report, released Tuesday.
Real GDP grew by 0.5% in April, according to Statistics Canada.
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