June 29, 2018 / 12:50 PM / 2 months ago

Canadian economy grew in April despite effects of bad weather

OTTAWA (Reuters) - The Canadian economy unexpectedly grew by 0.1 percent in April, even though bad weather affected major sectors such as retail trade and construction, Statistics Canada data indicated on Friday.

FILE PHOTO: Construction workers works on building new homes in Calgary, Alberta, May 31, 2010. REUTERS/Todd Korol

Analysts in a Reuters poll had predicted no change from March. April marked the seventh time in the last eight months that the economy has expanded.

Bank of Canada Governor Stephen Poloz on Wednesday kept markets guessing as to whether rates would rise next week and said economic data would decide the next move. The central bank has hiked rates three times since July 2017

Manufacturing rose by 0.8 percent from March on higher output of machinery as well as food products and chemical products.

Colder-than-normal temperatures, including an ice storm across central and eastern Canada, helped cut retail trade by 1.3 percent. Construction declined by 0.5 percent.

Reporting by David Ljunggren; Editing by Jeffrey Benkoe

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