{"id":48700,"date":"2024-06-28T13:24:51","date_gmt":"2024-06-28T13:24:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/06\/28\/canadas-economy-grows-0-3-in-april\/"},"modified":"2024-06-28T13:24:51","modified_gmt":"2024-06-28T13:24:51","slug":"canadas-economy-grows-0-3-in-april","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/06\/28\/canadas-economy-grows-0-3-in-april\/","title":{"rendered":"Canada&#8217;s economy grows 0.3% in April"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Statistics Canada predicts slower growth in May<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Jun 28, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 1\u00a0hour ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"79e8c5d8-2e0a-43a7-8fe5-2a33275784ce\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Cranes stand over shipping containers at Port Metro Vancouver. Wholesale trade helped boost Canada&#8217;s economy in April. <\/span> <span class=\"credit\">Photo by Darryl Dyck\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Canada\u2019s economy grew by 0.3 per cent in April, mainly driven by mining, wholesale trade, the oil and gas industry and manufacturing, Statistics Canada said Friday.<\/p>\n<p>On an annual basis, the economy grew by 1.1 per cent compared to April 2023.<\/p>\n<p>After struggling to grow at all through the last three quarters of 2023, the Canadian economy is showing a bit more of a pulse so far this year,\u201d Bank of Montreal chief economist Douglas Porter said in a note on Friday. \u201cOn balance, growth is holding up a touch better than widely expected in 2024, but remains generally lacklustre.\u201d<\/p>\n<\/section>\n<div 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from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Manufacturing grew by 0.4 per cent after retracting 0.6 per cent in the first quarter of this year. Retail trade also improved, increasing 0.5 per cent following two consecutive months of decline.<\/p>\n<p>The oil and gas sector, which grew by 1.2 per cent in April, may have received a boost ahead of the opening of the Trans Mountain pipeline expansion on May 1.<\/p>\n<p data-async=\"\">Construction and the real estate activity, however, decreased. Residential building construction was down by 2.3 per cent, its largest decline since May of last year.<\/p>\n<p data-async=\"\">The Canadian economy grew by an annual rate of 1.7 per cent during the first quarter, less than the Bank of Canada\u2018s forecast of 2.8 per cent.<\/p>\n<p data-async=\"\">This lower-than-expected GDP growth, in addition to downward-trending core inflation data, paved the way for the central bank in June to make its first interest rate cut in four years, bringing the overnight rate down to 4.75 per cent from five per cent. However, data released after the decision showed inflation rising slightly in May to 2.9 per cent from 2.7 per cent reported in April, calling into question whether another cut would follow in July.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot18\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories4621572904963763056869608230223872\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.4.4\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. 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Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment9854232697097233662263934750556160\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"GDP chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=90&strip=all&w=288&sig=ZVF9ethQfMYRO8HiSi0Tmw\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=90&strip=all&w=288&sig=ZVF9ethQfMYRO8HiSi0Tmw,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=90&strip=all&w=576&sig=D4eXvfYOyRzxIkQ_3JKboQ 2x\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/canada-gdp-gs0628.png?quality=5&strip=all&w=100&sig=MqWpp16vA3vpYc16bFWF7Q&ssl=1\" height=\"800\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p>Speaking to reporters on Monday, Bank of Canada governor Tiff Macklem said the Canadian economy appears to be headed towards a \u201csoft landing\u201d and is confident that inflation will return to its two per cent target and that growth will continue to rebound from last year.<\/p>\n<section aria-labelledby=\"moreTopicLabel13333684647922616253007024619520\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" data=\"\" not=\"\" as=\"\" oilers=\"\" game=\"\" but=\"\" close=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Oilers fans react as the Edmonton Oilers lose to the Stanley Cup to the Florida Panthers Monday night. Canadians got another disappointing in inflation data Tuesday, say economists.\n\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=80&sig=PTcbwyHPfe7PZzbeujuDmg\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=5&sig=Od1dyX4Iz6y0WJHfanu2fg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=96&strip=all&quality=80&sig=PTcbwyHPfe7PZzbeujuDmg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=192&strip=all&quality=80&sig=1QPD7qxJPhPJtJxvSOKKhw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/edmonton-oilers-0625.jpg?h=288&strip=all&quality=80&sig=iU5G2Lj4grS1z-UHfc9EeA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Inflation data not as &#8216;disappointing&#8217; as Oilers game \u2014 but close<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" dollar=\"\" weak=\"\" but=\"\" not=\"\" through=\"\" the=\"\" floor=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Canadian dollar is facing headwinds. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=80&sig=EcvxQHhNWNEgMqP1W5bfcw\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=5&sig=MeczBwVIKfWBFlpWl-dcPA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=96&strip=all&quality=80&sig=EcvxQHhNWNEgMqP1W5bfcw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=192&strip=all&quality=80&sig=_nnDmmeVO6O-WJ-uQY-GEg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/05\/canadain-dollar-0507-ph.jpg?h=288&strip=all&quality=80&sig=DbEKHr1KYd2nSYBn_MHO7Q 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian dollar weak but not &#8216;falling through the floor&#8217;<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Preliminary estimates by Statistics Canada put growth in May at 0.1 per cent. This number may change when the official numbers are released in July.<\/p>\n<p>Economists are now predicting the economy will grow at an annual rate of 1.8 per cent in the second quarter, slightly above the 1.5 per cent annual growth the Bank of Canada predicted in its monetary policy report in April.<\/p>\n<p>\u201cGrowth within the Canadian economy was good, but not great, over the spring, particularly when viewed in the context of a strong labour force and population growth,\u201d CIBC Capital Markets economist Andrew Grantham said in a note on Friday. \u201cWe continue to view next week\u2019s employment data, and next month\u2019s CPI figures, as more important in determining whether the Bank of Canada will trim interest rates by a further 25 basis points at the late-July meeting.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment9243590039215669040196008907112448\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Economists are now predicting slower population growth in 2024, after Canada had record-setting population gains last year.<\/p>\n<p>\u201cSteady job growth and robust population gains have been one of the main factors helping lift the economy,\u201d Pedro Antunes, chief economist of the Conference Board of Canada, and his colleague Victor Cicman said in a release on Friday. \u201cHowever, GDP per capita has seen a decline for six of the past seven quarters.\u201d<\/p>\n<p>They predict that the slowdown in population growth, combined with continued financial stress on consumers, means monetary policy will have an even more substantial impact on Canadian households.<\/p>\n<p data-async=\"\"><em>\u2022 Email: jgowling@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada&#8217;s economy grows 0.3% in April<\/a><br \/>\n<br \/>2024-06-28 13:24:51<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Statistics Canada predicts slower growth in May Published Jun 28, 2024 \u00a0\u2022\u00a0 Last updated 1\u00a0hour ago \u00a0\u2022\u00a0 3 minute read You can save this 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