US Edition
Canada’s first quarter GDP expands, beating estimates as economy reacts to tariffs
- Canada's economy grew 2.2% annualized in Q1 2025, surpassing analysts' prediction of 1.4%, according to Statistics Canada.
- The growth was driven by strong exports as U.S. importers stockpiled goods ahead of tariffs, leading to increased demand for Canadian goods.
- Household spending fell from 1.2% to 0.3%, indicating challenges despite strong exports in sectors like oil and gas.
- Experts forecast 1.0% growth for 2025, highlighting risks from the tariffs and Canada's reliance on U.S. trade.
53 Articles
53 Articles
Canada Q1 growth up but Trump tariffs starting to hurt
OTTAWA, Canada — Canada’s latest growth figures, released Friday, were better than expected, but also highlighted weaknesses in the economy as the effects of a trade war launched by US President Donald Trump began to take hold. The nation has been shaken by the mercurial Republican billionaire’s repeated tariff threats — and his targeting of its automotive, steel and aluminum sectors in particular with 25 percent levies. The protectionist policy…
Fears of a trade war have stimulated imports and exports, notes Statistics Canada.
U.S. Importers’ Tariff Frontloading Rush Boosts Canada’s 2.2% GDP Growth
Statistics Canada reports Canada’s economy grew 2.2% annualized in Q1 2025, exceeding analysts’ 1.4% prediction. The 0.5% quarterly rise reflects strong exports. U.S. importers, stockpiling goods before tariffs, fueled this growth. Q4 2024 growth, revised to 2.1% annualized and 0.5% quarterly, shows slight improvement. Oil, gas, and mining sectors surged, driven by U.S. demand. However, […]
The Canadian economy grew faster than expected in the first quarter.
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