The Canadian economy grew 0.2 per cent in May, led by expansions in manufacturing and the public sector, Statistics Canada reported Wednesday.
Statistics Canada will release its May gross domestic product report this morning. A shopper pushes a shopping carts as they leave a Real Canadian Superstore in Ottawa on Tuesday, June 25, 2024. THE CANADIAN PRESS/Sean Kilpatrick
However, it highlights the Trans Mountain pipeline expansion’s contribution to economic growth that month. The federal agency estimates that growth was tempered slightly in June to 0.1 per cent, with growth in construction, real estate and rental and leasing and finance and insurance partially offset by decreases in manufacturing and wholesale trade.
The latest economic growth figures come one week after the Bank of Canada lowered its key interest rate for a second time in a row.
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