Canada: Real GDP grew 0.6% in May, as 14 of 20 industrial sectors increased
|"Real gross domestic product (GDP) grew 0.6% in May, as 14 of 20 industrial sectors increased. This was the seventh consecutive monthly increase," the Statistics Canada announced on Friday.
Key quotes:
- Goods-producing industries rose 1.6%, led by mining, quarrying, and oil and gas extraction, more specifically non-conventional oil extraction. Service-producing industries were up 0.2%, led by finance and insurance services
- The finance and insurance sector increased 0.9% in May
- The manufacturing sector was up 1.1% in May as most subsectors grew
- Retail trade grew 0.9% in May with 8 of 12 subsectors increasing
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