Statistics Canada to release GDP figures for May, preliminary Q2 figure

Statistics Canada is set to release today its latest reading on how the economy fared in May, as well as a preliminary glimpse for the second quarter.

The federal agency's early estimate suggests real gross domestic product grew 0.4 per cent in May, driven in part by the manufacturing and wholesale trade sectors.

That compares with an April reading that showed the economy was virtually unchanged, while it grew a slight 0.1 per cent in March.

The Bank of Canada has been working to slow the economy by raising interest rates in an effort to bring inflation back within its target range.