TORONTO – Canada’s main stock index closed lower Friday on broad-based losses, while U.S. stock markets also closed down despite earlier gains.
The S&P/TSX composite index ended down 66.37 points at 21,875.79 as energy and industrials fell.
The Canadian market was showing some pressure after lukewarm growth indications.
Statistics Canada said Friday real gross domestic product grew 0.3 per cent in April and that its early read for May showed growth slowed to 0.1 per cent for the month.
The pace is off some of the gains in earlier months this year as consumers pull back, said Hadiza Djataou, portfolio manager of global bonds at Mackenzie Investments.
“When you look at the details, consumption is really taking a hit. The consumer in Canada is really feeling the pain of this higher rate that we’ve had…
