Canada’s economy grew by 0.5 percent in May, the biggest rise in a year, as industries recovered from a combination of bad weather and maintenance shutdowns in April, Statistics Canada said on Tuesday.
The increase – greater than the 0.4 percent growth forecast by analysts in a Reuters poll – was the largest since the 0.5 percent advance seen in May 2017. May marked the eighth time in the last nine months that the economy has expanded.
The retail sector expanded by 2.0 percent while construction posted a 0.7-percent gain. Both sectors were hit by cold weather and an ice storm in April.
The oil and gas extraction sub-sector rose 2.5 percent on increased crude bitumen exploitation following shutdowns in April for maintenance and capacity expansion.
The improving weather though hit the utilities sector, which shrank by 2.4 percent on lower demand for electric power generation, transmission and distribution.