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Canada GDP Grows

Canada GDP GrowsCanada GDP Grows

Canada’s economy grew for a sixth consecutive month with gains in a majority of industries, underlining the central bank’s view a durable recovery from an oil shock is emerging, Bloomberg reported. Gross domestic product grew 0.2% in April, Statistics Canada said Friday from Ottawa, matching the median forecast in a Bloomberg survey of economists. Statistics Canada says goods-producing industries were essentially unchanged for the month as an improvement by mining, quarrying, and oil and gas extraction was largely offset by a drop in manufacturing. The latest economic report comes amid increased speculation that the Bank of Canada could raise its key interest rate target next month.

 

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