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Canada's GDP declines 0.3 percent in May
(MENAFN)Statistics Canada listed that the country’s real gross domestic product (GDP) declined 0.3 percent in May, after the earlier month's 0.5 percent fall.
In February last year, Canada's total economic activity reached almost 2 percent under the pre-coronavirus epidemic level.
Generally, 12 out of 20 manufacturing subdivisions decreased because both services-producing subdivision that dropped 0.2 percent and goods-producing subdivision that declined 0.4 percent.
On the other hand, Statistics Canada stated that regardless of two months of defeats, the country’s economy seems to have expanded in the April-June period, and expected the economy to expand at a yearly volume of 2.5 percent in the second quarter.
In February last year, Canada's total economic activity reached almost 2 percent under the pre-coronavirus epidemic level.
Generally, 12 out of 20 manufacturing subdivisions decreased because both services-producing subdivision that dropped 0.2 percent and goods-producing subdivision that declined 0.4 percent.
On the other hand, Statistics Canada stated that regardless of two months of defeats, the country’s economy seems to have expanded in the April-June period, and expected the economy to expand at a yearly volume of 2.5 percent in the second quarter.
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