April 2021 GDP Report from Statistics Canada

Statistics Canada released its April GDP figures today. GDP shrank in April by 0.3% - well below the initial expectation of a 0.8% contraction. This is the first decline in GDP after 11 months of growth. Non-residential building construction grew by 1.1% in the month. StatsCan also issued a preliminary estimate for May GDP, forecasting another 0.3% shrinkage. The full report is available on the Statistics Canada website.