BCREA ECONOMICS NOW - Canadian Monthly GDP (April) - June 29, 2012
BCREA ECONOMICS NOW
Canadian Monthly GDP (April) - June 29, 2012
The
Canadian economy expanded 0.3 per cent in April on the heels of 0.1 per cent
growth in March. Much of April's increase was due to a 2.7 per cent rebound in
the mining and oil gas extraction sector following two months of
declines. Despite a strong headline number, there was underlying weakness
in April's numbers as important industries like construction, manufacturing and
retail trade all posted declines.
Today's release puts our GDP tracking estimate at 2 per cent for the second
quarter, well below the Bank of Canada's most recent forecast of 2.5 per cent.
For the year, we are forecasting that the Canadian economy will grow a modest
2.2 per cent.
For more information, please contact:
Cameron Muir |
Brendon Ogmundson |
Chief Economist |
Economist |
Direct: 604.742.2780 |
Direct: 604.742.2796 |
Mobile: 778.229.1884 |
Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca |
Email: bogmundson@bcrea.bc.ca |
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