Real gross domestic product (GDP) increased 0.5% in March, following no change in February. Growth was widespread across goods-producing and service-producing industries. Goods-producing industries grew for the fourth time in five months, increasing 0.9% in March, while service-producing industries rose 0.3% in March and have grown continuously since September 2015. The manufacturing sector was the largest contributor to the growth in GDP in March, growing 1.6% and more than offsetting a 1.0% contraction in February. Non-durable manufacturing (+1.7%) rose for the fourth time in the last five months based on ... (full story)

Canada’s economy accelerated in the first quarter to a 3.7 percent annualized pace behind what is one of the most broad-based quarterly expansions since the recession, though inventories were responsible for the biggest part of the gain and trade disappointed enough to bring growth below analyst forecasts. Statistics Canada also raised its growth estimates for the two previous quarters to 2.7 percent and 4.2 percent, confirming the country is in one of its strongest periods of expansion since at least 2011. Canada’s economy grew at a more-than-expected 0.5 percent pace in March, on the back of higher manufacturing. ... (full story)