Canada’s economy grew 0.2 per cent in May, Statistics Canada said on Wednesday.
Latest rise comes after GDP increased 0.3% in April
Jenna Benchetrit · CBC News ·
(CBC)
Canada’s economy grew 0.2 per cent in May, Statistics Canada said on Wednesday, in line with what economists were expecting.
The manufacturing sector drove growth in May for the second consecutive month, StatsCan said, while the mining, quarrying and oil and gas extracting sector saw a 0.6 per cent decline.
However, the retail sector was the largest drag on economic growth in May. Most retail sub-sectors were down, too, including purchases from food and beverage stores, health and personal care stores, and general merchandise stores.
The data agency is estimating that GDP in June grew a modest 0.1 per cent.
More to come.
ABOUT THE AUTHOR
Jenna Benchetrit is a senior writer with the business content unit at CBC News. She has also covered entertainment and education stories. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at [email protected].
