Canada’s GDP shrank for 2nd month in a row

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Home Business Canada’s GDP shrank for 2nd month in a row 01-08-2021 12:34 PM Ammon News - Canada's real gross domestic product (GDP) fell by 0.3 percent in May, after the earlier month's 0.5 percent fall, according to Statistics Canada on Sunday. "Overall, 12 of 20 industrial sectors were down as both services-producing sector lost 0.2 percent and goods-producing sector decreased 0.4 percent. But there were also gains in manufacturing and mining, quarrying, and oil and gas extraction" the Statistics Canada said. The department added that the Delta variant created some challenges around the world through the re-tightening of restrictions in some countries, indicating that Canada has so far avoided the worst repercussions of the virus, which is reflected on the economic prospects of the country.

Home Business

Canada’s GDP shrank for 2nd month in a row

01-08-2021 12:34 PM

Ammon News - Canada's real gross domestic product (GDP) fell by 0.3 percent in May, after the earlier month's 0.5 percent fall, according to Statistics Canada on Sunday.

"Overall, 12 of 20 industrial sectors were down as both services-producing sector lost 0.2 percent and goods-producing sector decreased 0.4 percent. But there were also gains in manufacturing and mining, quarrying, and oil and gas extraction" the Statistics Canada said.

The department added that the Delta variant created some challenges around the world through the re-tightening of restrictions in some countries, indicating that Canada has so far avoided the worst repercussions of the virus, which is reflected on the economic prospects of the country.

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