Canada: Real GDP grew 0.6% in May, as 14 of 20 industrial sectors increased

Eren Sengezer FXStreet

"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

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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