Canada May GDP 0.0% vs -0.2% expected

  • Canadian May 2022 GDP data from Statistics Canada
Canada GDP May 2022
  • Prior was +0.3%
  • Services +0.4%
  • Goods -1.0%
  • 14 of 20 industrial sectors increased in May
  • June advance GDP +0.1%
  • The transportation and warehousing sector rose 1.9% in May, up for the fourth month in a row
  • The manufacturing sector contracted 1.7% in May following seven months of growth

Canada continues to grind along. Expect ongoing contributions from auto manufacturing and energy extraction.

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