Quebec’s economy contracted 0.2% in April, according to ISQ

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QUEBEC – After growing 1.6% in March, Quebec’s economy contracted 0.2% in April as the third wave of COVID-19 contamination set in, the Quebec Institute of Statistics.

The province’s real gross domestic product has thus grown by 8.2% for the first four months of 2021, compared to the same period last year. This exceptional growth is explained by the historic declines recorded in March and April 2020 which were noted when the pandemic arrived in the province, according to the ISQ.

The drop in GDP in April was due to output in the goods industries – mining, quarrying, and oil and gas extraction – which fell 0.9% after increasing 2.1.

For their part, the service-producing industries recorded a gain of 0.1%, which marks a slowdown after the increases of 1.5% and 1.4% posted respectively in February and March.

Among the sectors that contributed the most to this change were health care and social assistance (+ 1.0%), retail trade (-1.1%) and transportation (-1.2% ).

According to data released at the end of June by Statistics Canada, the Canadian economy shrank 0.3% in April. Goods-producing industries increased 0.5%, while service-producing industries declined 0.6%. For the first four months of the year, the Canadian GDP shows a growth of 4.9% compared to the same period in 2020.

– this report by La Presse Canadienne was first published in French on July 20, 2021.


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