Canadian GDP Expands 0.1% in April

Canada’s economy expanded by 0.1 per cent in April, beating expectations of a flat showing, as manufacturing, utilities and other sectors grew.

Statistics Canada reported Friday that goods-producing industries grew by 0.2 per cent during the month, while the service sector was flat. Together that added up to a 0.1 per cent increase overall, better than the flat showing that economists had been anticipating.

usdcad Canadian dollar graph, June 29, 2018

After contracting in January, Canada’s economy has now grown for three months in a row.

Manufacturing showed some of the strongest gains, including a 2.8 per cent increase in machinery manufacturing, a 4.8 per cent increase in non-metallic mineral products and a 2.7 per cent increase in primary metals.

Output of food products also increased by 4 per cent.

via CBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza