Canadian economy increased 0.5% in March, having exceeded the forecast

The Canadian economy grew in March by 0.5% compared to February, statistics showed. Economists had expected GDP to grow by 0.4% after a February decline of 0.2%. In annual terms, the Canadian economy increased by 1.4% to 1.955 trillion Canadian dollars. The manufacturing industry showed an increase in production of 0.7%, while a month earlier it was noted a decline of 0.7%. Retail sales slowed growth to 0.4% from 0.5%. Wholesale trade increased its turnover by 1.1%, significantly accelerating its pace after a 0.2% increase in February. The construction sector recorded a 0.5% rise in production after a decline of 0.9% a month earlier. In the transport industry, there was an increase of 1.4% after a February decline of 1.3%. In the first quarter, Canada’s GDP rose 0.4% from the same period last year. Compared with a 0.3% rise in February, economic growth accelerated.

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