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The economy grew by just one-tenth of one per cent in May, according to the latest report from Statistics Canada. After growth was flat in April, economists had expected the real gross domestic product to grow by 0.2 per cent. While construction and real estate transactions were down, the modest growth rate was edged up by a third-straight month of gains in the oil, gas and mining sectors.
A slight boost in manufacturing also helped nudge the gain. The finance and insurance sector grew by 0.5 per cent, on the back of increased banking activity and stock trading. Retail trade was also up, with notable increases in clothing, accessories, food and beverages.
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Source: CTV
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