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- Canadian GDP rose more than expected in March
Canadian GDP rose more than expected in March
Real gross domestic product (GDP) increased 0.5% in March, following no change in February. Growth was widespread across goods-producing and service-producing industries.
Goods-producing industries grew for the fourth time in five months, increasing 0.9% in March, while service-producing industries rose 0.3% in March and have grown continuously since September 2015.
The manufacturing sector was the largest contributor to the growth in GDP in March, growing 1.6% and more than offsetting a 1.0% contraction in February.
Non-durable manufacturing (+1.7%) rose for the fourth time in the last five months based on widespread growth. With the exception of paper manufacturing, all subsectors posted gains, led by chemical products (+2.4%), petroleum and coal products (+2.6%) and plastic and rubber products (+2.4%). Food manufacturing rose 0.9% as seven of nine industry groups registered growth.
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