Canada GDP grew 0.3% mom in May, matched expectations. Services-producing industries were up 0.5%, while goods-producing industries partially offset the increase with -0.3% decline. Overall, 12 of 20 industrial sectors posted increases.
Advance information indicates that GDP decreased -0.2% mom in June. The decrease was driven by the wholesale trade and manufacturing sectors. These decreases were partially offset by increases in oil and gas extraction as well as in the real estate and rental and leasing sector.
