Canada's Economy Sees Rebound in May with Growth of 0.3 Percent

CANADA'S ECONOMY experienced a rebound in May, growing at a rate of 0.3 percent, according to Statistics Canada. This growth is attributed to various sectors such as oil and gas, construction, and real estate.

The mining, quarrying, and oil and gas extraction sector saw an expansion of 1.0 percent, driven by support activities for the subsector, which rose 7.3 percent. Producers had deferred spring maintenance to capture higher prices.

Other sectors that contributed to the growth include construction, up 0.8 percent, and real estate and rental and leasing, increasing by 0.4 percent. Manufacturing, finance and insurance, and transportation and warehousing also grew 0.3 percent.