Reported 12 months ago
Canada's economy saw a 0.3% increase in gross domestic product in April, in line with market expectations, driven by growth in sectors like wholesale trade and manufacturing. Analysts predict further expansion in May. The growth in April, the fastest since January, was led by rebounds in wholesale trade, mining, manufacturing, and oil and gas extraction. Preliminary estimates for May suggest a 0.1% GDP growth. Inflation unexpectedly rose in May, affecting rate cut expectations by the Bank of Canada.
Source: YAHOO