Canada's economy edges up 0.1% in May, falling below expectations | iNFOnews

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Canada's economy edges up 0.1% in May, falling below expectations

A worker on the production line at Chrysler's assembly plant in Windsor, Ontario, works on one of their new minivans as the company celebrated the production launch of the new Dodge Grand Caravan and Chrysler Town and Country, Tuesday, January 18, 2011.THE CANADIAN PRESS/Geoff Robins
July 31, 2012 - 8:38 AM

OTTAWA - Statistics Canada says the economy grew by 0.1 per cent in May, after rising 0.3 per cent in April.

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 disappointing May gain puts Canada's economy on track to record second-quarter growth below two per cent.

The agency says retail sales and the finance and insurance sectors were the key contributors to growth during the month.

News from © The Canadian Press, 2012
The Canadian Press

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