Canada’s GDP grew by 0.2% mom in May, surpassing the expected 0.1% mom growth. The primary driver of this growth was the goods-producing industries, which saw a 0.4% increase with four out of five sectors expanding. The services-producing industries also contributed, albeit modestly, with a 0.1% rise. Overall, 15 out of 20 sectors experienced growth.
Advance information suggests that real GDP increased by 0.1% mom in June. Gains in construction, real estate and rental and leasing, and finance and insurance were partially offset by declines in manufacturing and wholesale trade.
