By Promit Mukherjee <\/p>\n
OTTAWA, June 30 (Reuters) – Canada’s economy rebounded more than expected in April, data showed on Tuesday, following a slight contraction in the \u200cprevious month, allaying concerns that a tariff-led slowdown was getting more entrenched. <\/p>\n
The \u200cGross Domestic Product in April grew by 0.5% on a month on month basis, Statistics Canada said, \u200badding the growth was the largest monthly expansion in nine months. <\/p>\n
* Analysts polled by Reuters had estimated the GDP in April to grow by 0.4% on a monthly basis, after the GDP contracted by 0.1% in March. <\/p>\n
* Canada’s economy had entered a technical \u200crecession at the end of \u2060the fourth quarter but the Bank of Canada and most economists had dismissed it as a one-off. <\/p>\n
* Canada’s economy has faced a \u2060range of tariffs from the United States administration since last year on some crucial sectors but its impact has largely stayed contained within the affected sectors. <\/p>\n
* The uncertainty from \u200btariffs and \u200bthe fate of the U.S.-Mexico-Canada free trade \u200bdeal which is up for a \u200creview on Wednesday has held back investments and job growth. <\/p>\n
* StatsCan said that 14 of the 20 industrial sectors grew in <\/p>\n
April. <\/p>\n
* The goods-producing sector, which contributes up to a quarter of the economy, posted a growth of 1.2%, StatsCan said, adding that mining, quarrying, and oil and gas extraction sector rose 2.9% in April, its largest \u200cmonthly growth rate in more than two \u200byears. <\/p>\n
* The construction sector registered a growth of 0.7%, \u200bits first growth in five \u200bmonths, while the manufacturing sector posted a growth of 0.6%. <\/p>\n
* Services-producing \u200cindustries, which accounts for three-quarters of the \u200bGDP with sectors \u200bsuch as real estate, transportation, wholesale trade among others, grew by 0.3% in April, date showed. <\/p>\n
* Transportation and warehousing rose 0.9% in April, up for the \u200bsecond time in three \u200cmonths. <\/p>\n
* An advance estimate for May showed that the economy is likely \u200bto grow by 0.1% on a monthly basis, the statistics agency said. <\/p>\n
(Reporting \u200bby Promit Mukherjee; Editing by Dale Smith) <\/p>\n","protected":false},"excerpt":{"rendered":"By Promit Mukherjee OTTAWA, June 30 (Reuters) – Canada’s economy rebounded more than expected in April, data showed…\n","protected":false},"author":2,"featured_media":519218,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,156958,184,85,83898,46,2355],"class_list":["post-519217","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-canada39s-economy","tag-economy","tag-il","tag-industrial-sectors","tag-israel","tag-statistics-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/519217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=519217"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/519217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/519218"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=519217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=519217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=519217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}