Canada’s GDP declined in April

World World: Canada’s economy contracted by 0.1% in April, mainly due to US tariffs and uncertainties. The Statistics Office of Canada recently gave this information. The main reason for the decline in gross domestic product (GDP) in April was a 0.6% reduction in the textile manufacturing industry, which contributes 25% to the GDP.

According to the Statistics Office of Canada, the manufacturing sector declined by 1.9% in April, the biggest decline in the last four years. Earlier, the GDP growth for March was increased from 0.1% to 0.2%. The estimated GDP for May is also expected to decline by 0.1%.