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2025-08-01 01:19:17
Canada's GDP fell 0.1% in May. Statistics Canada reported on the 31st local time that real gross domestic product (GDP) fell 0.1% in May, the same rate of decline as in April, marking the second consecutive month of contraction. Statistics Canada attributed the May economic downturn primarily to goods-producing sectors, particularly mining, quarrying, and oil and gas. The service sector remained stable in May, while manufacturing grew 0.7%, partially offsetting a 1.8% decline in April after the full implementation of US tariffs, but still 1.1% lower than in March.
