Lower energy output dampens Canadian growth in April
Lower oil and gas production caused Canada’s economic growth to come in lower than expected at 0.1 per cent in April, according to Statistics Canada data released on Monday, matching March’s rise but below the 0.2-per-cent forecast.
Taken to a second decimal point, real growth in gross domestic product was actually 0.14 per cent. Excluding oil and gas extraction, it was a more respectable 0.19 per cent.
Oil and gas production fell by 0.8 per cent during the month, affected by maintenance at some petroleum facilities, Statistics Canada said. Mining and quarrying fell by 1.3 per cent. All the data is adjusted for seasonal factors.
Service-producing industries rose by 0.3 per cent while goods-producing industries fell by the same amount. In the goods sector, only manufacturing rose, with agriculture and forestry, utilities and construction all down, in addition to mining, oil and gas.
Lower energy output dampens Canadian growth in April - The Globe and Mail