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By Greg Quinn

Canada’s economy grew for a sixth consecutive month with gains in a majority of industries, underlining the central bank’s view a durable recovery from an oil shock is emerging.

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Gross domestic product grew 0.2 per cent in April, Statistics Canada said Friday from Ottawa, matching the median forecast in a Bloomberg survey of economists.

Highlights

— Fourteen out of 20 sectors grew on the month, led by a 2.7 per cent gain in mining and a 1 per cent rise in transportation and warehousing

— The expansion over the last 12 months of 3.3 per cent is the fastest since June 2014

— Canada’s booming housing market showed some signs of cooling in April, when Ontario introduced measures to constrain the Toronto market. Residential construction fell for the first time in six months with a 0.9 per cent decline, and activity by agents and brokers fell 0.6 per cent

Big Picture

Canada’s dollar and bond yields jumped this week on comments from Governor Stephen Poloz suggesting he favours raising his 0.5 per cent interest rate, with investors betting that could come as early as the central bank’s July 12 meeting. Poloz and his deputies cited gains that are broadening to include more industries and regions, even those most hurt by the fall in crude prices to below $50 a barrel.