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Canadian GDP edges up on spikes in manufacturing and real estate (Bloomberg)

June 29, 2018

Canada’s real gross domestic product edged up 0.1% in April from March, Statistics Canada reported today. This increase follows gains of 0.3% in March and 0.4% in February. Bloomberg reported Canada’s economy showed unexpected strength in April on a sharp pick up in manufacturing and a rebounding real estate sector. Economists had been expecting a flat reading due to the impact of poor weather conditions in April and following a disappointing run of economic data for the month. With advance in April, economic growth is on track to exceed 2% on an annual basis in the second quarter.