Manufacturing boom keeps Canada’s economy growing in May: StatCan

Canada’s system kept increasing contempt a slowing gait done nan 2nd 4th of nan year, according to preliminary information released Wednesday.

Statistics Canada said May’s existent gross home merchandise was up 0.2 per cent successful nan month. Manufacturing led maturation successful nan period pinch nan largest jump seen successful nan assemblage since January 2023, offsetting a slowdown successful retail.

The expanded Trans Mountain pipeline came online towards nan extremity of nan month, helping to thrust up pipeline proscription assemblage past month.

May’s maturation eased somewhat from 0.3 per cent maturation successful April, but is up of nan early estimates for 0.1 per cent maturation successful June. All told, StatCan expects maturation was affirmative successful nan 2nd 4th of nan year.

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Finalized figures for nan 2nd 4th of nan twelvemonth will beryllium released astatine nan extremity of August.

More to come…