Canada’s economic growth slowed down in May, says the Ottawa Citizen. Statistics Canada reported that the economy grew by just 0.1 per cent that month after a 0.3 per cent increase in the previous month.
Economists expected a 0.2 per cent growth in May.
The Bank of Canada is also anticipating disappointment, lowering its second-quarter forecast to 1.8 per cent from an earlier 2.5 per cent estimate.
The retail sector, however, improved slightly. It was up 0.7 per cent from a 0.9 per cent decline in April.