Canada’s economy grew 0.3% in April but signs of a slowdown in May: Statistics Canada – National

According to Statistics Canada, real gross domestic product grew by 0.3 percent in April.

The agency says the growth was led by the mining, quarrying and oil and gas exploration sectors, as well as customer-facing industries.

However, it also said its early estimate for May suggested the economy contracted 0.2 percent for the month.

The official reading for May is expected on July 29th.

For April, Statistics Canada says the mining, quarrying and oil and gas production sector grew 3.3 percent, while oil and gas production grew 3.9 percent.

The lodging and hospitality sector grew 4.6 percent, while the arts, entertainment and recreation sector grew 7.0 percent.

There’s more to come.

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© 2022 The Canadian Press

https://globalnews.ca/news/8958330/canada-economy-gdp-april-2022/ Canada’s economy grew 0.3% in April but signs of a slowdown in May: Statistics Canada – National

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