Canada's economy grew in April, but May contraction expected

Arabnews24.ca:Thursday 30 June 2022 09:26 AM: Statistics Canada says real gross domestic product grew 0.3 per cent in April.

The agency says the growth was led by the mining, quarrying and oil and gas extraction sector and client-facing industries.

However, its early estimate for May indicates the economy contracted by 0.2 per cent for the month. The official reading for May is expected on July 29.

For April, Statistics Canada says the mining, quarrying and oil and gas extraction sector grew by 3.3 per cent, as oil and gas extraction gained 3.9 per cent.

The accommodation and food services sector added 4.6 per cent, while the arts, entertainment and recreation sector rose 7.0 per cent.