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Canada's Economy Rebounds With 0.5% GDP Gain in April

Economists say the rise was driven by a jump in oil and gas output, may be temporary because monthly GDP is prone to revision, with downside risk from U.S. tariffs, the USMCA review.

The moon rises behind the Canadian landmark CN Tower, and the skyline of Toronto, November 25, 2015. REUTERS/Mark Blinch
A transport truck carries a cargo container to be loaded at the DP World Centerm terminal at port in Vancouver on Sunday, Aug. 3, 2025. THE CANADIAN PRESS/Darryl Dyck
Statistics Canada says real gross domestic product grew 0.5 per cent in April, with mining, quarrying, and oil and gas extraction leading the way.
Pumpjacks pump crude oil near Halkirk, Alta., on June 20, 2007. THE CANADIAN PRESS/Larry MacDougal

Overview

  • Statistics Canada confirmed Tuesday that real GDP rose 0.5 percent in April, the biggest monthly gain in nine months and a reversal of March’s 0.1 percent contraction.
  • The mining, quarrying and oil and gas extraction sector surged 2.9 percent in April and accounted for a large share of the monthly increase.
  • Fourteen of 20 industrial sectors expanded in April, with goods-producing industries up 1.2 percent and services-producing industries up 0.3 percent.
  • StatsCan provided a preliminary estimate that GDP likely rose 0.1 percent in May, but economists caution single-month readings can be volatile and are often revised.
  • Analysts warn that the rebound eases immediate talk of a technical recession yet may not signal durable growth because energy output is lumpy and U.S. tariffs plus the pending USMCA review are weighing on investment and hiring.