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Message: For Canada watchers - GDP out.

For Canada watchers - GDP out.

posted on Jun 30, 2009 11:45AM

The Globe and Mail, Heather Scoffield
Ottawa — Globe and Mail Update Last updated on Tuesday, Jun. 30, 2009 09:41AM EDT

Canada's economy contracted for the ninth month in a row in April, with slowing activity in manufacturing, energy and retail trade pushing real gross domestic product down 0.1 per cent from a month earlier, Statistics Canada says.
The 0.1 per cent decline was exactly as economists had projected, and follows decreases of 0.3 per cent in March and 0.1 per cent in February.
Declines during the spring were not as steep as the pronounced contraction that Canada and the world experienced last winter.
But the Canadian economy was three per cent smaller in April than a year earlier, Statscan said, with the goods side of the economy shrivelling 8.2 per cent over the year, and the services side of the economy shrinking 0.6 per cent.

http://www.theglobeandmail.com/report-on-business/canadian-economic-decline-continued-in-april/article1201666/

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