GDP for April comes in at 0.2%. Y/Y comes in at 3.3% vs 3.4% estimate

The Canadian GDP m/m for the month of April comes in at 0.2% vs 0.2% est. The gain in March was 0.5%.

The y/y came in at 3.3% vs 3.4 estimate. The prior reading was at 3.2%.

  • 14 of 20 sectors advanced
  • Service industries increased by 0.3% on widespread growth across sectors.
  • Goods producing industries were virtually unchanged on the month. Mining, quarrying, oil and gas extraction were up, while manufacturing was down.

Some highlighted industries:

  • Mining, quarrying and oil and gas continues to grow. Up 1.2% in April.
  • Transportation and warehousing gains in April. Up 0.4% in April.
  • Wholesale and retail grow. 4 of 5 months higher. Gained 0.5% in the month
  • Professional services up 0.5%
  • Arts and entertainment up 2.8% in April
  • Construction up 0.1%
  • Finance and insurance up 0.1%
  • Manufacturing -0.9% vs 1.0% last month

Below is the chart and table of the M/M changes

The USDCAD Fell to a low of 1.2945 but has since rebounded to 1.2970 area currently. The low is the lowest level since Sept 9, 2016.