Canadian Economy Grew 0.3% in May, Beating StatCan's Early Estimate

Canada's economy grew 0.3% in May, Statistics Canada reported, marking the second straight monthly increase and beating the agency's initial flash estimate of 0.1% growth.

Growth was broad-based, with 13 of 20 industrial sectors expanding. Goods-producing industries led the way, rising 0.6% month over month, while services output grew 0.2%. Mining, quarrying, and oil and gas extraction was the standout performer, with output up 1% in May — the sector's second consecutive month at the top of the growth table.

Second-quarter picture improves

Based on the May data, StatCan's advance estimate points to the economy expanding 0.8% in the second quarter of 2026. That would mark a rebound after the economy contracted in the first quarter. Final second-quarter GDP figures are still to come.

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