Gross domestic product rose 0.5 per cent from March, and Statistics Canada said early data suggest the economy grew 0.1 per cent in May, amid strength in oil and gas, finance and government spending. (The Logic)

Talking point: The latest tally of economic output should quiet the histrionics that followed Statistics Canada’s report of first-quarter GDP, which described a slow patch that met the most basic definition of a recession. The new monthly numbers suggest the economy grew at an annual rate of around 2.5 per cent in the second quarter, after dropping one per cent in the fourth quarter and stalling over the first three months of 2026. Elevated energy prices, government spending and AI-related investment should be enough to keep the economy afloat, but trade uncertainty and a depressed housing market will keep it from doing much more than muddling along.