Canada's economy grew 0.3% in May as mining and construction lead recovery
Real GDP expanded for a second consecutive month; mining and oil-gas extraction sector continues to lead growth, while real estate and rental activity rise on stronger home resale activity.
Sources · StatCan - The Daily
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Canada's real gross domestic product grew 0.3 per cent in May 2026, rising for a second consecutive month as both goods-producing and services-producing industries expanded, with 13 of 20 industrial sectors contributing to growth.
The mining, quarrying, and oil and gas extraction sector continued to lead economic expansion, growing 1.0 per cent in May. Support activities for mining and oil and gas extraction rose 7.3 per cent—the sector's seventh consecutive monthly expansion and its largest gain since March 2024. Support activities for oil and gas extraction jumped 9.8 per cent, driven by higher oil sands activity in Alberta. The oil sands extraction industry itself grew 1.6 per cent, up for a second consecutive month as crude bitumen extraction expanded. Mining and quarrying excluding oil and gas contracted 0.7 per cent, dampening overall sector growth.
Goods-producing industries as a whole expanded 0.6 per cent. Construction increased 0.8 per cent in May as all subsectors grew; engineering and other construction activities and residential building construction each rose 1.1 per cent, with apartment buildings driving the residential increase.
Services-producing industries expanded 0.2 per cent. Real estate and rental and leasing grew 0.4 per cent for the fourth consecutive month, with offices of real estate agents and brokers rising 5.1 per cent—the subsector's largest monthly increase since October 2024, reflecting increased national home resale activity particularly in Ontario and British Columbia. Public administration rose 0.6 per cent across all government levels; federal government public administration (excluding defence) grew 0.9 per cent, boosted by increased Census activity.
The public sector aggregate comprising education, health care, social assistance, and public administration expanded 0.3 per cent across all comprising sectors. Manufacturing grew 0.3 per cent for the second consecutive month, driven by increases across most subsectors, with non-durable goods manufacturing rising 1.0 per cent for the fourth consecutive month.
Statistics Canada released the data July 31, 2026.
By the numbers
How much did Canada's real GDP grow in May 2026?
Canada's real GDP grew 0.3 per cent in May 2026, marking the second consecutive month of expansion.
Which sector led Canada's economic growth in May 2026?
The mining, quarrying, and oil and gas extraction sector led growth, expanding 1.0 per cent in May 2026, with support activities for mining and oil and gas extraction rising 7.3 per cent.
How much did real estate and rental activity grow in May 2026?
Real estate and rental and leasing grew 0.4 per cent in May 2026 for the fourth consecutive month, driven by increased home resale activity particularly in Ontario and British Columbia.
