Canada's GDP contracted 0.3% m/m

Bayanalysis - The Canadian economy - Canada's gross domestic product - shrank 0.3% month-on-month in April, ending 11 consecutive monthly increases, according to Statistics Canada.

Expectations before that indicated that the Canadian economy would decline by 0.8 percent, affected by the tightening of several Canadian sectors, the precautionary restrictions due to Corona, which resulted in a reduction in shopping - which is not necessary - to a large extent.

And 12 industrial sectors fell out of 20 sectors, as profits from goods industries compensated for the downturn caused by service industries, specifically retail trade, as the goods-producing industries sector rose by 0.5 percent, while the services-producing industries decreased by 0.6 percent.

Historically, Canada's GDP recorded its highest rise in January 2020 with 6.1 percent, while the highest decline in Canadian GDP was in April 2020 of minus 11.2 percent.