Official data released on Friday confirms that the Canadian economy expanded by 0.3 per cent in May. This marks the continuation of a broader economic rebound into a second month and surpasses earlier government forecasts. Statistics Canada’s monthly Gross Domestic Product figures show real output increased in 13 of 20 major industrial sectors. Broad gains in goods-producing industries and sustained demand in services drove this growth. The actual monthly increase exceeded the preliminary estimate of 0.1 per cent, providing strong momentum for the economy after April’s revised growth of 0.6 per cent.
