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Economy Grows By 4.5 Per Cent In May

Statistics Canada says the economy grew by 4.5 per cent in May following two months of unprecedented declines.

The increase in GDP came around the time that provinces and territories began reopening parts of their economies.

Construction rose by 17.6 per cent, retail trade grew by 16.4 per cent and manufacturing rebounded by 7.4 per cent.

Preliminary information from the agency also indicates a five per cent increase in GDP for the month of June.

But despite two months of increases, Statistics Canada estimates the economy contracted by 12 per cent in the second quarter.

The estimates will be updated when the official GDP for June and the second quarter are released in late August.

 

Author

  • Brad Perry is an award-winning news anchor and reporter and a 2013 graduate of the NBCC journalism program. Based in New Brunswick, he is also the assistant national news director for Acadia Broadcasting. Contact Brad at perry.brad@radioabl.ca.

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8:39 pm, Apr 15, 2026
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