Canada: GDP growth picks up in May
July 31, 2014
GDP increased a seasonally-adjusted 0.4% over the previous month in May, which came in above April’s 0.1% expansion and met market expectations. According to Statistics Canada, most subcategories that compose the index grew in May, with manufacturing and wholesale trade recording the largest rates of expansion.
On an annual basis, GDP rose 2.3% in May, exceeding April’s 2.2% rise. The overall trend improved slightly as annual average growth ticked up from April’s 2.2% to 2.3% in May.