Canada’s gross domestic product rebounded in April after shrinking in February and March, Statistics Canada reported today.

Manufacturing, wholesale and retail trade and the financial sector grew, offsetting drops in construction, and the oil and gas industry.

GDP was up 0.4% in April, after dropping 0.2% in March and 0.3% in February.

The April 2008 figure was up 1.2% from the April 2007 report.

Both the service sector — about 70% of the economy — and goods production were up 0.4% in April.

The gain in goods was driven by a 1.9% rise in manufacturing, but the increase was not enough to recover the ground lost in the two previous months.

In services, the wholesale sector jumped 2.1%, retail was up 0.6% and finance, insurance and real estate was up 0.2%. It’s the largest service industry, accounting for about a fifth of the national economy.

Despite the April increase, manufacturing output was still down 5.5% from April 2007.

A big jump in motor vehicle production, up seven% in April, boosted the manufacturing number.

GDP is a measure of the economy that counts the value of all the goods and services produced in a given period, in this case the month of April.