Canada GDP was essentially unchanged in May, better than expectation of -0.2% mom contraction. Services-producing industries rose grew 0.4% mom while goods-producing industries contracted -1.0%. 14 of 20 industrial sectors increased.
Advance information indicates that GDP grew 0.1% mom in June, as output was up in the construction, manufacturing, and accommodation and food services sectors. Also, GDP grew 1.1% qoq in Q2.
