Jun 28 in RE Data & Trends Insights 📊🏠
🚀 Canada’s Economy Expands in April with More Growth Expected
📈 Canada’s economy grew by 0.3% in April, reflecting ongoing resilience with more growth anticipated in May.
Key Points:
• Growth: Canada’s GDP increased by 0.3% in April.
• Future Outlook: Continued growth expected in May.
• Economic Sectors: Significant contributions came from manufacturing, mining, quarrying, and oil and gas extraction. Retail and accommodation services also saw gains.
• Interest Rates: Strong GDP growth can influence the Bank of Canada’s decisions on interest rates. Higher growth typically means less likelihood of rate cuts, as the economy shows signs of strength and inflation control becomes a priority.
• Sector Highlights:
• Manufacturing: Gains driven by machinery and electronic product manufacturing.
• Mining and Oil: Increased oil and gas extraction, particularly from oil sands, contributed significantly.
• Retail and Services: Retail volumes and accommodation services experienced growth, indicating consumer confidence and increased spending.
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🚀 Canada’s Economy Expands in April with More Growth Expected
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