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Shoppers pass Holt Renfrew‘s flagship store on Bloor Street in Toronto. The retail sector grew 0.8 per cent in April.
Shoppers pass Holt Renfrew‘s flagship store on Bloor Street in Toronto. The retail sector grew 0.8 per cent in April.
(Moe Doiron/The Globe and Mail)

The glimmers of growth emerging from winter chill

The Canadian economy can’t hide behind the weather any more. Now that we’ve started to move past the distortions of a harsh winter, the realities of the country’s slow-growth trajectory are beginning to emerge from the latest gross domestic product (GDP) numbers.

The April report, released by Statistics Canada Monday morning, showed growth of a thin 0.1 per cent over March, and 2.1 per cent compared with 12 months ago. Both the monthly and annual growth paces matched March’s numbers, and both were short of economists’ expectations (0.2 per cent and 2.3 per cent, respectively).