Canada Monthly GDP MoM

Canada's GDP is expected to grow 0.1% in May 2024, as increases in manufacturing, real estate, rental & leasing and finance & insurance were partially offset by a drop in retail trade and wholesale trade. In April 2024, the economy expanded by 0.3%, in line with preliminary estimates. Goods-producing industries grew 0.3%, driven by growth in manufacturing (+0.4%), agriculture, forestry & fishing (+0.6%) and mining, quarrying, oil & gas extraction (+0.6%), while utilities (-0.2%) and construction (-0.4%) output shrank. Meanwhile, services-producing industries also grew by 0.3%, mainly driven by growth in wholesale trade (2%) and accommodation & food services (+1.2%).