Canada’s economy edges up 0.1 per cent in May
Posted July 31, 2012 6:49 am.
This article is more than 5 years old.
OTTAWA, ON (NEWS1130) – The Canadian economy grew by 0.1 per cent in May, after rising 0.3 per cent in April, Statistics Canada announced today.
Economists had expected a stronger showing in May of 0.2 per cent, given previous indicators that showed sales, manufacturing and wholesale trade all up during the month.
The disappointing May gain puts Canada’s economy on track to record second-quarter growth below two per cent.
The agency said retail sales and the finance and insurance sectors were the key contributors to growth during the month.