Experts say the Canadian economy is likely on the mend after a bad tumble in May.
Statistics Canada reported Canada’s gross domestic product fell 0.5% during the month, worse than analysts expected.
May marked 10 straight months of economic decline.
Much of the drop was due to plant shutdowns in manufacturing, particularly the auto sector.
But economists say auto production will likely start to bounce back now that Chrysler plants—which were shut down for most of May and June—have returned to production. The GDP data are one of the closest watched of all economic indicators as the broadest measure of how the economy is doing, combining goods production, services, jobs and consumer purchasing activity.
