GDP rose 0.3% in April

Real gross domestic product (GDP) rose 0.3% in April in Canada after rising 0.7% in March.

Statistics Canada attributes the increase primarily to a 3.3% advance in mining, quarrying, and oil and gas extraction. Industries dealing directly with the public also performed well.

Oil sands mining alone posted a 5.6% increase in April, the largest monthly increase since September 2020.

The accommodation and food services sector rose 4.6% in April, up for a third consecutive month. The arts, entertainment and recreation sector grew by 7%, but remained down 12% from its February 2020 level, just before the outbreak of the COVID-19 crisis.

Retail trade rose 0.9% in April, more than offsetting declines in the previous two months.

As for the construction sector, it was essentially unchanged in April, after increasing for three months.

Statistics Canada reports that advance information available to it indicates that real GDP fell 0.2% in May.

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