Canadian Monthly GDP (April) - June 29, 2012
Monthly GDP (April) - June 29, 2012
The Canadian economy expanded 0.3 per
cent in April on the heels of 0.1 per cent growth in March. Much of April's
increase was due to a 2.7 per cent rebound in the mining and oil gas extraction
sector following two months of declines. Despite a strong headline
number, there was underlying weakness in April's numbers as important
industries like construction, manufacturing and retail trade all posted
Today's release puts our GDP tracking estimate at 2 per cent for the second
quarter, well below the Bank of Canada's most recent forecast of 2.5 per cent.
For the year, we are forecasting that the Canadian economy will grow a modest
2.2 per cent.