Canada's Economy Sees Second Straight Month of Growth

Canada's economy has seen a positive trend in recent months, with a growth of 0.3% in May, according to Statistics Canada. This marks the second consecutive month of growth, suggesting that the country is on track for a solid rebound after stagnating earlier this year.

The sector that contributed most to the growth was mining, quarrying, oil and gas extraction, which rose by 1% in May. This increase can be attributed to some maintenance work being completed early or deferred, allowing for more extraction.

Transportation and warehousing also saw an increase, as pipelines pushed more natural gas out of the country and onto the market. The real estate and rental and leasing sector was boosted by a rise in home-selling activity, with offices of real estate agents experiencing high levels of business.

An early estimate for June indicates that the economy is on track to expand by 0.2% in that month, putting it on pace for 0.8% growth for the second quarter overall.