Canada's economy grew by 0.3% in May, despite a significant decline in the oil and gas Sector due to wildfires. The energy sector shrank by 2.1%, the first decline in five months, primarily due to the impact of forest fires in Alberta. Residential building construction also fell by 1.8%, driven by declines in home alterations and improvement. However, the wholesale, manufacturing, and public sectors saw growth, aided by the easing of supply-chain bottlenecks and the end of a public sector worker strike. Advanced data for June suggests a contraction of 0.2%, indicating a faltering momentum in the economy.

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