Canada’s GDP grows 0.3% in April, despite rise in interest rates

A pumpjack on the prairie. Alberta, Canada. The oil industry is a major driver of the economy in the Western Canadian province. Additional themes in the image include crude oil, oil output, economy, drilling, keystone pipeline, oil field, oilsands, Calgary, alberta, rig, oil industry, natural gas, and power and energy. ImagineGolf

By Claire Fenton

Posted June 30, 2022 8:47 am.

Last Updated June 30, 2022 10:38 am.

Canada’s economy keeps growing, according to Statistics Canada, which revealed the Gross Domestic Product jumped by 0.3 per cent in April.

The increase is led by the mining and oil and gas sector, which has seen the largest monthly growth rate since December 2020.

The accommodation and food services sector also expanded for the third straight month, passing the pre-COVID-19 levels typically seen in April.

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The agency says that is driven by increased travel as pandemic restrictions eased.

The accommodation and food services sector added 4.6 per cent, while the arts, entertainment and recreation sector rose 7.0 per cent.

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