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Canada's economy grows 0.2% in May, more than estimates of 0.1%, after 0.3% growth in April

Real gross domestic product grows for 4th time in 5 months, says Statistics Canada

Canada's economy grows 0.2% in May, more than estimates of 0.1%, after 0.3% growth in April
2024-07-31 15:52:53

ISTANBUL

Canada's real gross domestic product (GDP) grew 0.2% in May, the country's statistical body said Wednesday.

"Real gross domestic product (GDP) grew for the fourth time in five months," Statistics Canada said in a statement.

The figure came slightly higher than market expectations of 0.1%, after showing 0.3% growth in April.

In May, 15 of 20 sectors showed increases in the month, while manufacturing sector led the growth in May with a 1% gain, rising for a second consecutive month.

"The increase in May was the largest since January 2023 as both durable and non-durable manufacturing rose in May 2024," said the statement.