Canada's GDP increased 0.2% in May, mainly due to manufacturing and public sector growth.

Canada's GDP rose 0.2% in May, driven by expansions in manufacturing and the public sector, according to a report by Statistics Canada. The retail and wholesale trade sectors, along with oil and gas, weighed on growth. The report cited the Trans Mountain pipeline's expansion as contributing to the growth. Statistics Canada estimated that growth was tempered slightly in June to 0.1%. For the second quarter, the agency expects real GDP grew at an annualized rate of 2.2%.

July 31, 2024
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