NewsAlert: Economy grew 4.5% in May, Statistics Canada says

OTTAWA — Statstics Canada says the economy grew by 4.5 per cent in May as businesses began to reopen after severe lockdowns of March and April.

In a flash estimate for June, the agency says the economy continued to grow at an annualized rate of 5 per cent.

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Despite the two months of growth after two months of negative readings, economic output contracted by 12 per cent in the second quarter.

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