Canada's economy contracted by 0.1% in May, but showed signs of a rebound

[shockedcanadian]

I believe that's two months in a row of a contraction. One more month and it will be an official recession though I believe we've been in a perpetual decline since covid. Governments of today which spend so freely dont like recessions so they all often cook the books for the third month to ensure there isn't an official recession We will see.

Canada abandoned the meritocracy long ago to enforce the caste. We are not designed to compete in the globally innovative economies of today. Be forewarned America...

https://www.cbc.ca/news/business/may-gdp-1.7598287

Statistics Canada says the economy contracted for a second straight month in May, but there were signs of a rebound in June.

The agency says real gross domestic product fell 0.1 per cent in May, matching the decline in April.

Goods-producing sectors were blamed for the May decline, particularly in mining, quarrying and oil and gas.


Manufacturing activity grew 0.7 per cent in May, partially offsetting a drop of 1.8 per cent in April when U.S. tariffs took full effect. Statistics Canada noted that manufacturing activity remained 1.1 per cent lower in May than in March.

Transportation and warehousing also rebounded from an April decline.

A busier month for home resales, particularly in Toronto, saw activity tick up in the real estate and rental industry. And with three Canadian teams advancing to the second round of the NHL playoffs, the spectator sports industry was on the rise in May as well.

The data agency's early estimates for June show an expected rebound of 0.1 per cent in real gross domestic product. The agency pointed to strength in retail and wholesale trade driving the growth, while manufacturing is expected to have declined last month.

 

[Stuartbirdan2]

I believe that's two months in a row of a contraction. One more month and it will be an official recession though I believe we've been in a perpetual decline since covid. Governments of today which spend so freely dont like recessions so they all often cook the books for the third month to ensure there isn't an official recession We will see.

Canada abandoned the meritocracy long ago to enforce the caste. We are not designed to compete in the globally innovative economies of today. Be forewarned America...

https://www.cbc.ca/news/business/may-gdp-1.7598287

Statistics Canada says the economy contracted for a second straight month in May, but there were signs of a rebound in June.

The agency says real gross domestic product fell 0.1 per cent in May, matching the decline in April.

Goods-producing sectors were blamed for the May decline, particularly in mining, quarrying and oil and gas.


Manufacturing activity grew 0.7 per cent in May, partially offsetting a drop of 1.8 per cent in April when U.S. tariffs took full effect. Statistics Canada noted that manufacturing activity remained 1.1 per cent lower in May than in March.

Transportation and warehousing also rebounded from an April decline.

A busier month for home resales, particularly in Toronto, saw activity tick up in the real estate and rental industry. And with three Canadian teams advancing to the second round of the NHL playoffs, the spectator sports industry was on the rise in May as well.

The data agency's early estimates for June show an expected rebound of 0.1 per cent in real gross domestic product. The agency pointed to strength in retail and wholesale trade driving the growth, while manufacturing is expected to have declined last month.

The largest contributor to the decrease in investment was private inventory investment, led by decreases in nondurable goods manufacturing (mainly, chemical manufacturing) and in wholesale trade (reflecting widespread decreases in durable goods industries). The estimates of private inventory investment were based primarily on Census Bureau inventory book value data and a BEA adjustment to account for notable increases in imports in the first quarter and decreases in the second quarter

 

[Stuartbirdan2]

I believe that's two months in a row of a contraction. One more month and it will be an official recession though I believe we've been in a perpetual decline since covid. Governments of today which spend so freely dont like recessions so they all often cook the books for the third month to ensure there isn't an official recession We will see.

Canada abandoned the meritocracy long ago to enforce the caste. We are not designed to compete in the globally innovative economies of today. Be forewarned America...

https://www.cbc.ca/news/business/may-gdp-1.7598287

Statistics Canada says the economy contracted for a second straight month in May, but there were signs of a rebound in June.

The agency says real gross domestic product fell 0.1 per cent in May, matching the decline in April.

Goods-producing sectors were blamed for the May decline, particularly in mining, quarrying and oil and gas.


Manufacturing activity grew 0.7 per cent in May, partially offsetting a drop of 1.8 per cent in April when U.S. tariffs took full effect. Statistics Canada noted that manufacturing activity remained 1.1 per cent lower in May than in March.

Transportation and warehousing also rebounded from an April decline.

A busier month for home resales, particularly in Toronto, saw activity tick up in the real estate and rental industry. And with three Canadian teams advancing to the second round of the NHL playoffs, the spectator sports industry was on the rise in May as well.

The data agency's early estimates for June show an expected rebound of 0.1 per cent in real gross domestic product. The agency pointed to strength in retail and wholesale trade driving the growth, while manufacturing is expected to have declined last month.

Do you agree with trump's tariffs?

 

[shockedcanadian]

Do you agree with trump's tariffs?

I agree with all nations opening up their markets to other nations products. If they do not have a willing partner and/or there are abuses and barriers, the other nation should retaliate with a tariff.

I support Canada retaliating with a tariff against the U.S. The problem though is that Canadians are broke and the tariff would hurt our consumers far worse than Americas. Trump and his team know this, in addition to their knowledge of what Canadian agencies are doing in U.S corporations here among other violations.

Ideally I wouldn't want ANY tariffs. Unfortunately since nations abuse in trade and protect from fair competition, Canada and others MUST use tariffs. China will always be cheaper when they subsidize their industries and dont uphold to International rights of citizens, slave labour, environmental poisoning etc.

What is America to do when so many other nations are cheating and spitting on norms?

The rules weren't written by me and the greatest harm done to global trade and norms occurred when some fools allowed China into the WTO without them having to play by the same rules.

People happy to look away in exchange for slave labour. Disgusting and the greatest threat to all of our existences.


I'd advise America to mine and refine rare earth minerals. This issue is allowing China to hold America hostage. Do it now, not tomorrow. Spend the money and return back to this critical role to defend your economy from Chinas abuses.