When the Canadian economy surpassed expectations for April 2019 by growing 0.3%, it was met with both concern and celebration.
Media reports applauded the first quarter figures. Bloomberg reported: “Canada recorded a second strong month of growth in April, driven by rebounding oil output that is returning the nation’s economy to a more solid footing.”
While CBC quoted TD senior economist Brian DePatto, who in a letter to his clients wrote: "Thank goodness for energy. Without the surge of activity in that sector, driven by the easing of production restrictions, this would have been a much more modest report."
