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Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada's GDP growth declined 0.1% in April, missing expectations for a 0.1% rise, after a 0.2% drop in March. It was the fourth consecutive decline.
The decline was driven by a drop in in the output of goods-producing industries. Goods production decreased 0.8% in April, driven by a contraction in mining, quarrying, and oil and gas extraction.
The output of service-providing industries climbed 0.3% in April, driven by wholesale trade.
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