The Canadian economy contracted in April of this year by about 0.3%, after an increase for 11 consecutive months, to be the first monthly contraction in 12 months, according to data issued by Statistics Canada, after rising by about 1.1% in March, but the growth came better than the expectations of the markets, which indicated that it was recorded a contraction of about 0.8%.
GDP growth decreased in 12 out of 20 sectors, as the contraction in industries producing services -0.6% – was offset by gains in industries producing goods -0.5%, while the declines in the retail and construction sectors contributed the largest amount of declines, while the insurance, wholesale and financial sectors recorded some gains.
On the other hand, the prices of manufactured products in Canada according to the IPPI rose by about 2.7% on a monthly basis in May and rose by about 16.4% on an annual basis, while the prices of raw materials according to the RMPI index rose to 3.2% on a monthly basis in May and by 40.1% on an annual basis after An increase in the prices of energy and petroleum products by 5.4%.
The Canadian dollar is trading on slight increases against the US dollar at 1.2382 levels, after testing 1.2422 levels at the beginning of today’s trading.
07/11/2024
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