Canadian economy rebounds with 0.5% GDP growth in April, Statistics Canada says

Canada's economy posted stronger-than-expected growth in April, with real gross domestic product increasing by 0.5 per cent, according to new data released by Statistics Canada. The gain marks the fastest monthly expansion since July 2025 and follows a modest slowdown during the first quarter of 2026.

Statistics Canada said the increase was led by the oil and gas sector, while manufacturing, construction, transportation and warehousing industries also recorded broad-based gains. The construction sector grew by 0.7 per cent after five consecutive months of declines.

The agency also reported improved activity in the real estate market, supported by higher home sales in the Greater Toronto Area. At the same time, rising global oil prices linked to tensions in the Middle East and the conflict involving Iran contributed to a 69.7 per cent year-over-year increase in Canada's refined petroleum exports.

Preliminary estimates from Statistics Canada suggest the economy continued to expand in May, with real GDP projected to rise by 0.1 per cent.