GDP Up 0.2% in May

GDP

CBJ — The Canadian economy grew for a third consecutive month in May, rising 0.2% overall as 13 of 20 sectors moved upwards.

Statistics Canada says the increase in real gross domestic product was led by a rebound in manufacturing, following a decline in April.

The government agency reports that manufacturing expanded 1.2% overall as motor vehicle production returned to normal in May, following temporary shutdowns and unusual production schedules.

Construction, transportation and warehousing also made gains.

On the other side, wholesale trade was down 1.4% after four consecutive gains and retail was off 0.4%, the first monthly decline since last July.

@CanBizJournal

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