Raptors responsible for small surge in Canada's GDP for May 2019
The debate about whether the Toronto Raptors are Canada’s team or not can officially be put to rest.
The Raptors galvanized the entire country during their playoff run, which culminated in their first-ever championship. Numbers don’t lie, either, and the Raptors produced a small national economic spike.
Canada’s GDP expanded by 0.2 percent in May, with a 0.5 percent spike in the arts and entertainment sector, while the accommodations and food services sector grew by 0.4 percent, Statistics Canada revealed via the CBC.
Who would’ve thought those extra beers and nachos would grow the economy?
This ascension probably won’t last forever, however.
"The sectors that benefited through stronger than typically seasonal activity probably face greater than seasonally normal downside risk in subsequent months as this sports effect drops out," Scotiabank economist Derek Holt told CBC’s Pete Evans.
The Raptors weren’t isolated for the purpose of the report, but with all Canadian playoff entrants flaming out after the first round of the NHL playoffs, the spike can solely be attributed to the meteoric rise of the eventual NBA champions.
Go ahead, buy that additional Raptors championship t-shirt you’ve had your eyes on. You can rest easy knowing that you’re helping the rest of the country in the process.
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