Ottawa: Statistics Canada released the latest data of growth in the Canadian economy for May.
The federal agency on Friday said the Canadian economy grew by 0.3 per cent in May.
The federal agency’s preliminary estimate suggests that the real gross domestic product grew at an annualized rate of 1 per cent in the second quarter.
The May figures came in slightly lower than was expected by Statistics Canada as mining and oil and gas companies reduced their operations in Alberta at the outset of the record-breaking wildfire season.
The modest increase was driven, in part, by a rebound in the public administration sector as federal public servants on strike returned to work by the end of April.
The federal agency’s preliminary estimate for June suggests that the economy contracted by 0.2 per cent.
Statistics Canada said the decrease is mainly due to the wholesale trade and manufacturing sectors. — Canadian Press