Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Canadian Economy Grew 0.1% in April on ServicesFriday, June 28, 2013 > 12:16:39
Canada's economy grew by 0.1% in April from March – the fourth consecutive month-on-month advance – on gains by service industries, Statistics Canada said on Friday.
The modest increase matched analysts' expectations. The Bank of Canada forecasts that second-quarter growth on an annualized basis will be 1.8%, down from the 2.5% in the first quarter.
The output of service industries expanded by 0.3% in April. Goods production fell by 0.3% on a decline in mining, quarrying and oil and gas extraction.
Wholesale trade and retail trade advanced by 0.6% and 0.5%, respectively, while the finance and insurance sector grew by 0.6%.
Manufacturing grew by 0.2% with durable goods output up by 0.5% on gains in computer and electronic products. Non-durable goods production dropped by 0.3% on declines in petroleum and coal products.