Canada’s economy expanded by 0.3 per cent in May, as a large decline in oil and gas output due to wildfires was offset by growth in the service sector.
Statistics Canada reported Friday that more than half of all industries posted growth, but the headline figure was dragged down by declines in a few key industries. The energy sector, normally a source of strength, shrank by 2.1 per cent, because it was “severely impacted” by wildfires.
“This was the sector’s first decline in five months and its largest since August 2020,” the agency said.
Oil and gas extraction fell by 3.6 per cent during
