A line of trucks wait to cross the Bluewater Bridge border between Sarnia, Ontario and Port Huron, Michigan. (Credit: GEOFF ROBINS/AFP via Getty Images)
Declines in manufacturing led Canada’s economy to shrink by 0.1 per cent in April, Statistics Canada said on Friday.
The manufacturing sector fell 1.9 per cent, its largest drop since April 2021, with broad-based declines across both durable and non-durable goods.
Transportation equipment manufacturing was the biggest contributor to the decline in durable goods, registering its largest monthly contraction since September 2021 at 3.7 per cent.
Other transportation equipment declined by 21.6 per cent, its first drop in six months. Motor vehicle manufacturing also declined by 5.3 per cent as U.S. tariffs on vehicles imported from Canada resulted in lower exports and caused some manufacturers to scale back production.
An advance estimate for May has GDP declining by 0.1 per cent, with decreases in mining, quarrying, oil and gas extraction, public administration and retail trade partially offset by growth in real estate and rental and leasing.
More to come…