Canada’s economy stalls: GDP dips 0.1% in April as manufacturing slows

Statistics Canada says real gross domestic product edged down 0.1 per cent in April as the manufacturing sector slowed.

 

The agency also says its advance estimate for May points to another 0.1 per cent decline for that month.

 

The pullback in April came as goods-producing industries fell 0.6 per cent, with manufacturing accounting for nearly all the decline.

The manufacturing sector was down 1.9 per cent in April, the largest drop since April 2021.

 

Durable goods manufacturing fell 2.2 per cent in April, while non-durable goods manufacturing dropped 1.6 per cent.

 

Meanwhile, services-producing industries edged up 0.1 per cent for the month.

 

 

 

 

 

This article was first reported by The Canadian Press