Canadian Economy Expands 0.3% in May, CAD Remains Bullish

Canada's economy expanded by 0.3% in May, according to data released by Statistics Canada. This growth adds to the previous month's 0.6% expansion, which was revised from 0.5%. The Gross Domestic Product (GDP) growth was driven by both goods-producing and services-producing industries.

The press release notes that 13 of 20 industrial sectors contributed to the growth. Goods-producing industries expanded 0.6%, while services-producing industries rose 0.2%.

The Canadian Dollar (CAD) remains bullish, with USD/CAD breaking below 1.4000 after the GDP data release.