Canadian Economy Sees Modest Growth in May, Aims for Q2 Rebound

The Canadian economy experienced a modest growth of 0.3% in May, according to Statistics Canada.

This marks a steady recovery from the previous quarter's mild contraction and puts the economy on track for a solid rebound in the second quarter.

The mining, quarrying, oil and gas extraction sector led the growth with a 1% increase, driven by higher oilsands extraction and pipeline shipments.

Other sectors such as construction, manufacturing, finance and insurance, and the public sector also expanded in May.