US EditionStatistics Canada Says Real GDP Down 0.1% in April as Manufacturing Slowed
- Statistics Canada reported that the Canadian manufacturing sector declined by 1.9 percent, the largest drop since April 2021.
- Real gross domestic product fell by 0.1 percent in April, which was lower than Statistics Canada’s advance estimate.
- The goods-producing industries, which contribute 25 percent to GDP, saw a 0.6 percent decline, according to Statistics Canada.
- Wholesale trade contracted by 1.9 percent in April, largely due to a significant fall in motor vehicle and parts wholesaler-distributors.
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Statistics Canada also forecasts a decline in gross domestic product of the same order in May.
Toronto (Canada), 27 Jun (EFE).- The Canadian economy contracted by 0.1% in April as a result of uncertainty caused by tariffs imposed by the US President's administration, Donald Trump, reported this Friday the public agency Statistics Canada (EC). In addition, EC advanced that the provisional data of May show a similar decrease. In the first quarter of the year, the Canadian economy grew by 0.5%, more than expected. The main reason for the con…
Statistics Canada Says Real GDP Down 0.1 Percent in April as Manufacturing Slowed
The Canadian economy edged lower in April as the manufacturing sector posted its largest drop since April 2021 in the face of U.S. tariffs. Statistics Canada said Friday that real gross domestic product edged down 0.1 percent in April and that its advance estimate for May pointed to a similar decline. TD economist Marc Ercolao said the downside risks to Canada’s economic growth are beginning to manifest, especially in tariff-exposed sectors. “Ap…
The Canadian economy declined slightly in April, with the manufacturing sector recording its largest decline since April 2021 due to U.S. tariffs.
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