Canada Economy Grows 0.3% in May, Boosts Second-Quarter Outlook

Canada's economy showed resilience in May, growing by 0.3% and marking the second consecutive month of growth.

This expansion puts the country on track for a stronger second quarter, according to Statistics Canada.

The latest growth figure surpassed the agency's earlier estimate of 0.1% for the month.

Thirteen of the 20 major industrial sectors recorded gains in May, with key contributions coming from construction, manufacturing, finance and insurance, and the public sector.

The mining, quarrying, and oil and gas extraction sector led the growth for the second month in a row, rising by one percent. Officials said some maintenance activities that are normally carried out in May were either completed earlier or postponed, allowing production levels to increase.