加拿大华人论坛 加拿大留学移民Canadian economy stalls in April: StatsCan

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OTTAWA ― Canada's economic recovery, which appeared so strong in the earlier part of this year, seems to have hit a rough patch.Canada's gross domestic product was unchanged in April from the month before, Statistics Canada said Wednesday. That compared to a 0.6 per cent expansion of gross domestic product reported for March. Economists were expecting 0.2 per cent growth in GDPfor April.It marked the first month in eight the Canadian economy has not expanded. It also comes on the heels of 6.1 per cent annualized growth in the first quarter of this year, which was strongest rate of expansion in more than a decade.Statistics Canada said there was a "large decline" in the retail sector in April, and lesser contractions in manufacturing and utilities, which were offset by gains in mining, wholesale, the public sector and construction.In its Wednesday report, Statistics Canada said retail trade was down 1.7 per cent in April, as demand dropped sharply for items such as automobiles and clothing.Manufacturing output fell 0.3 per cent in April, the federal agency said, the first decline since August of last year. Non-durable goods, such as pharmaceuticals and food, were cited as the main cause of the lagging factory figures. Durable-goods manufacturing industries, such as machinery, vehicles and automotive parts, saw increased activity.Oil-and-gas extraction output was up 0.5 per cent in April and potash mining also saw gains, though output in mining sectors such as gold, silver and diamonds declined.These GDPnumbers are just the latest bit of news indicative of an economic recovery that's slowing down. Tuesday was the worst day on the Canadian stock market so far this year, following a downgrade of previously reported economic leading indicators for China, and declines in consumer confidence measures for both Canada and the United States.The Toronto Stock Exchange saw gains on Wednesday for the first time this week.Economists, however, were not sounding the alarm bell in the wake of the Canadian economy's lack of growth in April."Overall, while this was a weak report, we expect Canadian economic activity to bounce back in the coming months as the combination of the strong momentum in labour-market activity and supportive monetary and fiscal polices continue to provide a favourable tailwind for Canadian consumer spending," said Millan Mulraine, senior strategist with TD Securities.Dawn Desjardins, assistant chief economist with RBC Economics, said she expects GDPgrowth to resume in Canada in May and June. Despite the April figures showing "a mixed bag of activity," she said it "confirms that the domestic economy has recovered."But that's not to say it's all smooth sailing ahead.Warren Jestin, chief economist of Scotia Economics, said that while "the dreaded double-dip" recession many fear is unlikely to occur, economic growth in Canada and elsewhere is "at risk of slowing materially" in 2011 as governments start to focus more on cutting deficits than stimulating their economies.And while many are worried about the global effects from a slowdown in China's economic expansion, a CIBC World Markets report on Wednesday said fiscal-restraint measures of governments in the West will play a bigger role in curtailing growth next year than anything in China.Economic confidence could suffer another blow on Friday when June job numbers are released for the United States. Economists expect more than 100,000 positions to have been lost, which would be the first monthly decline so far this year.http://www.canada.com/business/Canadian+economy+stalls+April+StatsCan/3220063/story.html

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