In April 2025, the Canadian economy is estimated to have grown by 0.1%, maintaining the growth rate seen in March. This growth was fueled by sectors such as mining, quarrying, oil and gas extraction, and finance and insurance. However, these gains were partly counterbalanced by declines in the manufacturing sector, according to preliminary data.
Examining March figures, the goods-producing industries experienced a 0.2% uptick, marking growth for the second time in three months. This was primarily supported by a robust 2.2% recovery in mining, quarrying, and oil and gas extraction, along with a 0.5% rise in construction. Meanwhile, the services-providing sector saw a modest 0.1% increase, with notable contributions from retail trade, transportation and warehousing, both up 0.8%, and a 1.4% boost in accommodation and food services.
In the first quarter of 2025, Canada's GDP rose by 0.5%, mirroring the growth rate of the previous quarter, Q4 2024. This quarterly growth was largely driven by an upswing in the export of goods and the buildup of business non-farm inventories. However, the impact of higher imports and subdued activity in residential real estate sales curbed overall economic expansion during this period.
