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Canada’s Economy Expands in May as Retail Offsets Oil

Canada’s gross domestic product grew for a fifth straight month in May, as resilient consumer spending offset declining output by oil and gas producers.

Canada’s economy expanded 0.2 percent to an annualized C$1.58 trillion ($1.53 trillion), Statistics Canada said today in Ottawa, after a 0.1 percent gain in April. Economists surveyed by Bloomberg had forecast a 0.3 percent increase, the median of 20 responses.