Canada GDP


GDP growth accelerates in April

In April, GDP increased a seasonally adjusted 0.3% over the previous month, which was above both March's 0.1% rise as well as market expectations of a 0.2% expansion. According to Statistics Canada, mining and oil and gas extraction as well as wholesale trade led the monthly increase in April. On an annual basis, GDP expanded 2.0% in April (March: +1.7% year-on-year). Moreover, the trend stabilized, with the annual average growth rate remaining stable at March's 2.2%. The Central Bank projects the economy to grow 2.4% in both 2012 and 2013.


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Note: Quarter-on-quarter changes of seasonally adjusted annualized GDP and year-on-year variation in %.
Source: Statistics Canada (SC) and FocusEconomics Consensus Forecast.

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