HomeLive CommentsCanada GDP contracted -0.3% mom in May, to recover 0.7% in Jun

Canada GDP contracted -0.3% mom in May, to recover 0.7% in Jun

ActionForex
By ActionForex

Canada GDP contracted -0.3% mom in May, matched expectations. Total economic activity remained approximately -2% below prepandemic level in February 2020. Overall, 12 of 20 industrial sectors contracted, with services-producing down -0.2% and goods-producing down -0.4%. Preliminary information indices that GDP would grow 0.7% in June, and 0.6% in Q2.

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