NEWS

Canada's economy barely expanded in May

07/31/2012 09:53 EDT | Updated 09/30/2012 05:12 EDT
Canada's economy expanded by 0.1 per cent in May, a slowdown from 0.3 per cent the month before and slightly less than what economists were expecting.

Statistics Canada said Tuesday that goods-producing industries were unchanged, but the service sector expanded by 0.1 per cent.

Economists had expected a stronger showing in May of 0.2 per cent, given previous indicators that showed sales, manufacturing and wholesale trade all up during the month.

The soft growth in May puts the economy on track to expand at an annual pace below two per cent for the second quarter as a whole.

More to come

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