Canada GDP edges up 0.1% in April, chem output rises 4.9%

Source: ICIS News


TORONTO (ICIS)--Canada’s real gross domestic product (GDP) edged up 0.1% in April, from March, as output rose in 12 of 20 industrial sectors, federal agency Statistics Canada said in a data release on Friday.

After a decline in January, GDP has risen every month since the beginning of 2018.

In manufacturing, output was up 0.8% in April, with output of both durable and non-durable manufacturing rising.

Chemical products grew 4.9%, driven by an 8.9% increase in pharmaceutical and medicine manufacturing as exports to the US increased.

Petroleum and coal products fell 18.6% as partial shutdowns at a number of refineries across the country for maintenance work reduced the subsector's production capacity, Statistics Canada said.

Compared with April 2017, GDP was up 2.5% year on year, with manufacturing up 3.5%.