Canadian economy misses Q1 growth forecast; April GDP likely up 0.3%

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 82 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 99%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The Canadian economy expanded at an annualized rate of 1.7 per cent in the first quarter, missing forecasts, and real gross domestic product likely rose 0.3 per cent on a monthly basis in April, data showed on Friday.

The quarterly growth rate was slower than the 2.2 per cent pace forecast by analysts in a Reuters poll, as well as the Bank of Canada's 2.8 per cent forecast. Fourth-quarter GDP growth was revised to an annualized rate of 0.1 per cent from 1.0 per cent reported initially, Statistics Canada data showed.

In an advance estimate for April, Statscan said GDP likely rose 0.3 per cent as increases in manufacturing, mining, quarrying, and oil and gas extraction and wholesale trade were partially offset by decreases in utilities. A worker at a North Vancouver fast food restaurant says she was severely burned when a driver crashed into the building on March 16, knocking hot oil out of the fryer.British Columbia's police watchdog has cleared RCMP officers of wrongdoing after a Langley man died in a fire following a wellness check and hours-long standoff with police, during which he shot towards officers.

Montreal Mayor Valerie Plante said vehicle registration may rise and that she hopes to reduce wait times for housing build permits. She spoke with CTV News anchor Caroline Van Vlaardingen about those issues as well as a safe drug-use site near a playground, antisemitic acts in the city and encampments at McGill and UQAM.Inmate escapes from healing centre in EdmontonThe mother of a 13-year-old boy who was killed in a hit-and-run in Edmonton is begging the driver to come forward.

'Disappointed': Sask. tire company hoping to stay afloat after losing recycling duties to American firm Members of the Environment, Transportation & Public Safety Standing Committee have endorsed adding 10 red light cameras to intersections with high collision rates after seeing a reduction in collisions where these cameras already exist.General Motors will move out of the Renaissance Center next year and, looking to the future, CEO Mary Barra doesn’t rule out the demolition of the building.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian economy misses Q1 growth forecast; April GDP likely up 0.3%The quarterly growth rate was slower than the 2.2% pace forecast by analysts in a Reuters poll, as well as the Bank of Canada's (BoC's) 2.8% forecast...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »