Canada’s gross domestic product (GDP) grew by 0.5% in April, according to data released moments ago by Statistics Canada, following a contraction of approximately 0.1% in March. This figure surpassed expectations (0.4%) and was driven by strength in both the goods and services sectors.

Specifically, manufacturing rose by 1.2% in April, reflecting growth across most sectors, particularly mining, quarrying, and oil and gas. The services sector also saw growth, increasing by 0.3%, marking its third consecutive month of expansion. This growth was fueled by the public sector and the transportation and storage sector. In fact, 14 out of 20 industrial sectors experienced growth in April.