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UPDATE 1-Canada growth edges up 0.1 pct, paves way for weak Q2

Published 2016-06-30, 08:54 a/m
UPDATE 1-Canada growth edges up 0.1 pct, paves way for weak Q2

(Adds details of release, background)
OTTAWA, June 30 (Reuters) - The Canadian economy grew by
just 0.1 percent in April from March, Statistics Canada said on
Thursday, paving the way for a sickly second quarter on the back
of the devastation caused by major Alberta wildfires.
The advance - the first in three months - matched the
forecast in a Reuters poll of analysts.
The Bank of Canada, citing the damage the fires did to the
energy sector, said on June 15 that growth was likely to be flat
or slightly negative in the second quarter before an outsized
recovery took hold in the third quarter.
Manufacturing output in April rose by 0.4 percent after two
consecutive monthly decreases, pushed higher by growth in
non-durable goods manufacturing.
The utilities and the public sectors also posted increases
but they were largely offset by a 7.3 percent decline in the
output of oil sands plants. This was largely the result of
maintenance shutdowns at upgrader facilities.

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Graphic - Canada monthly GDP, exports to the U.S. http://link.reuters.com/jev87s
Graphic - Canada economic dashboard http://graphics.thomsonreuters.com/15/sc-canada/index.html

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