Canadian economy grew 0.3% in May, paving way for 2nd-quarter rebound

The Canadian economy expanded by 0.3% in May, marking a second consecutive month of growth and signaling a potential rebound in the second quarter. This uptick was driven by contributions from 13 out of 20 industrial sectors, suggesting a broad-based recovery. This growth is crucial as it indicates the economy is shaking off some of the pandemic-related slowdowns, which could lead to more robust economic activity in the coming months. The positive momentum could also influence future monetary policy decisions by the central bank.