FINWIRES · TerminalLIVE
FINWIRES

Canada's GDP Expands Higher Than Expected in May as June Preliminary GDP Seen Continuing Growth

By

Canada's real gross domestic product rose in May for a second straight month, with preliminary data pointing to a further increase in June, Statistics Canada said on Friday.

Real GDP added 0.3% monthly in May, while the preliminary figure indicated a 0.2% month-over-month increase in June, according to a StatsCan statement.

May's GDP expansion was higher than a 0.2% monthly advance in a survey compiled by Bloomberg.

Goods-producing industries led the growth, expanding 0.6% monthly as most sectors within the category improved. Service industries increased 0.2%, driven mainly by gains in real estate and rental and leasing, along with public administration.

For the second straight month, the mining, quarrying, and oil and natural gas extraction sector was the main driver of economic growth.

Overall, 13 of 20 industries posted increases in May, pointing to a broad-based economic expansion, added StatsCan.

With the advance estimate for June, GDP points to a growth of 0.8% in the second quarter of 2026, according to the agency.

Related Articles

International

Singapore's Unemployment Rate Steadies at 2% in Q2

Singapore's unemployment rate remained unchanged in the second quarter at 2% from the previous quarter, according to preliminary data from the Ministry of Manpower released Friday.The reading matched the Trading Economics forecast of 2.1%.Total employment grew by 10,700 during the second quarter of the year, compared with 10,400 a year earlier.

^STI
International

New Zealand Lending Rises in June Amid Broad-Based Loan Growth

New Zealand's lending from registered banks and non-bank lending institutions increased in June, driven by growth in housing, business, and agricultural lending, while personal consumer lending edged lower compared with the previous month, according to data from the Reserve Bank of New Zealand released on Friday.Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$400.51 billion in June from NZ$399.03 billion in May. Total personal consumer lending fell to NZ$14.45 billion in June from NZ$14.46 billion in the previous month.Total business lending increased to NZ$143.18 billion in the period, from NZ$143.13 billion. Meanwhile, agricultural lending rose to NZ$64.5 billion in June, from NZ$63.16 billion in the previous month.

^NZ50
International

Bank of Japan Maintains Benchmark Interest Rate at 1%

The Bank of Japan voted to maintain its benchmark policy rate at 1.00% at the conclusion of its monetary policy meeting on Friday.The decision matched the consensus forecast tracked by Investing.com.The policy board decided, in an 8-1 vote, to continue guiding the uncollateralized overnight call rate to remain until the next monetary policy meeting.

Nikkei 225