Canada: GDP growth accelerates in April
June 29, 2012
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.