• Analytics
  • News and Tools
  • Market News
  • Canada’s economy grows 4.5 percent in May
Canada’s economy grows 4.5 percent in May
31.07.2020, 12:58

Canada’s economy grows 4.5 percent in May

Statistics Canada announced on Friday that the country’s gross domestic product (GDP) grew 4.5 percent m-o-m in May, following no 11.7 percent m-o-m decline in April. 

This was above economists’ forecast for a 3.5 percent m-o-m growth and was the largest monthly increase since the series began in 1961.

According to the report, both goods-producing (+8.0 percent m-o-m) and services-producing industries (+3.4 percent m-o-m) rebounded in May, with 17 of 20 industrial sectors recording gains in output. Construction surged 17.6 percent m-o-m in May, while retail trade grew 16.4 percent m-o-m (the largest monthly increase on record), the manufacturing sector rose 7.4 percent m-o-m, wholesale trade increased 6.0 percent m-o-m, the health and social services went up 3.3 percent m-o-m and the transportation and warehousing sector advanced 1.7 percent m-o-m.

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location