Click here to read the full article.
Since the beginning of the year, Canada’s gross domestic product has been slowing in growth, going from gains of 0.9 percent in February to 0.3 percent in April.
A new report from Statistics Canada found that GDP remained steady in from April through May, plateauing at just over $2 trillion.
According to Statistics Canada, GDP across most industries neither rose nor fell in May, with growth in service-producing industries being offset by declines in goods-producing industries.
Notable exceptions were Arts, entertainment and recreation, which saw 2.6 percent growth, as well as transportation and warehousing, whose growth was measured at 1.9 percent.
While the transportation sector is experiencing the highest consecutive four-month increases since 1997, due in large part to an uptick in air transport, it is still around 7 percent below pre-pandemic levels of February 2020.
Continue reading here.
Scroll down for comments and share your thoughts!