Canada's GDP grows 0.2 per cent in May, as manufacturing rebounds: Statcan

Canadian GDP rises for third consecutive month in May Craig Alexander, partner and chief economist at Deloitte, joins BNN Bloomberg to weigh in on the latest Canadian GDP data. Alexander says that while Canada's economy is looking strong, we shouldn't get overly excited because it will moderate in the later part of this year.

OTTAWA - The Canadian economy grew for a third consecutive month in May, rising 0.2 per cent overall as 13 of 20 sectors advanced.

Statistics Canada says the increase in real gross domestic product was led by a rebound in manufacturing, following a decline in April.

It says manufacturing expanded 1.2 per cent overall as motor vehicle production returned to normal in May, following temporary shutdowns and unusual production schedules.

The construction sector as well as transportation and warehousing sector also grew in May.

But Statistics Canada says wholesale trade declined 1.4 per cent after four consecutive gains and retail trade contracted 0.4 per cent, the first monthly decline since last July.