Canada’s economy grew by 0.2 per cent in May, according to new data from Statistics Canada.
The manufacturing sector led the growth at 1.0 per cent, marking its largest increase since January 2023.
Non-durable goods and durable goods manufacturing both recorded increases, according to the report.
Retail trade was the largest detractor to growth. The sector contracted 0.9 per cent, wiping away the increase recorded in April.
Most subsectors were down, including the food and beverage stores, health and personal care stores and the general merchandise stores subsectors.
The wholesale trade sector also contracted 0.8 per cent in May, following a 1.4 per cent increase in April.
Also declining was the mining, quarrying, and oil and gas extraction sector, which was due to a drop in the oil and gas extraction subsector.
Several other sectors increased, including accommodation and food services, arts, entertainment and recreation, finance and insurance, and the public sector.
Meanwhile, preliminary estimates suggest real gross domestic product expanded at an annualized rate of 2.2 per cent in the second quarter.
The official estimate for the second quarter will be released on Aug. 30.
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