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Wildfire activity in Alberta and elsewhere, like this blaze threatened the hamlet of Little Buffalo, led to the biggest one-month decline in oil and gas output since April 2020 in May of this year. (Alberta Wildfire/Facebook) Canada’s economy expanded by 0.3 per cent in May, as a large decline in oil and gas output due to wildfires was offset by growth in the service sector. Statistics Canada reported Friday that more than half of all industries posted growth, but the headline figure was dragged down by declines in a few key industries. The energy sector, normally a source of strength, shrank by 2.1 per cent, because it was "severely impacted" by wildfires. "This was the sector’s first decline in five months and its largest since August 2020," the agency said. Oil and gas extraction fell by 3.6 per cent during the month as a result of the forest fires in Alberta. That was the biggest decline since April 2020. "The fires primarily impacted installations in the western parts of the province, from Edmonton to the Rocky Mountains’ Foothills in the Clearwater, Montney and Duvernay formations," Statistics Canada said. Other industries Residential building construction was another drag on growth, as […]
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