The economy shrank by 0.3 per cent in May, the second consecutive monthly decline, with slumps in mining, and oil and gas production leading the downturn, according to a report by Statistics Canada.
The agency says the shrinkage comes on the heels of a stagnant April. The last rise in the real gross domestic product was the 0.3 per cent increase recorded in March.
Mining, oil and gas extraction, manufacturing and construction all fell in May.
There was growth in the wholesale and retail trade, the public sector and utilities as well as the finance and insurance sector. Read More…