Canada’s GDP Data Released on April 30, 2025
Canada’s GDP Data Released on April 30, 2025
On April 30, 2025, Statistics Canada released the latest figures for the country’s Gross Domestic Product (GDP). The data indicates that the Canadian economy experienced a contraction of 0.2% in February. This decline was primarily driven by decreases in the goods-producing sector, notably in mining, quarrying, oil and gas extraction, and construction. The service-producing sector also saw a slight decrease, with transportation, warehousing, and real estate sectors contributing to the downturn.
Despite the contraction in February, preliminary estimates suggest a modest recovery in March, with GDP increasing by 0.1%. This growth was supported by gains in mining, quarrying, oil and gas extraction, retail trade, and transportation and warehousing sectors.
Overall, the first quarter of 2025 is projected to have an annualized growth rate of 1.5%. These figures provide insight into the current state of the Canadian economy and may influence future monetary policy decisions.
