US Edition
Canada's GDP shrinks in May, could avoid contraction in second quarter
CANADA, AUG 1 – Canada's gross domestic product fell 0.1% in May due to declines in mining and retail, but a 0.1% rise in June indicates potential stabilization amid ongoing U.S. trade tensions.
- On Thursday, Statistics Canada reported real gross domestic product edged down 0.1% in May, marking a second consecutive monthly contraction and potential flat growth for the second quarter.
- With U.S. trade tensions mounting, sectors like mining, quarrying, and oil and gas drove the May decline amid Trump’s threat of a 35 tariff.
- Transportation and warehousing sector increased 0.6, led by rail transportation, according to Statistics Canada.
- Analysts noted the Bank of Canada expects a 1.5% real GDP contraction in Q2 amid tariff uncertainty, with CIBC’s Andrew Grantham cautioning against overinterpreting preliminary data.
- Looking ahead, Statistics Canada said the early June GDP estimate will be updated on August 29, 2025, with final data expected to show 0.1% growth in June and the second quarter.
36 Articles
36 Articles
Canada GDP Seen Picking Up Slightly After Another Contraction in May -- 2nd Update
By Robb M. Stewart OTTAWA--Tariffs and trade worries deflated Canada's economy in the second quarter, though an uptick in activity in June suggests the country hasn't been squeezed as badly as... -July 31, 2025 at 11:41 am EDT MarketScreener
Canada’s Economy Contracts in May, but There Were Signs of a June Rebound
The Canadian economy contracted again in May, Statistics Canada said Thursday, but signs of a rebound in June could see growth hold flat for the quarter overall. Real gross domestic product fell 0.1 percent in May, matching the decline in April. The agency said goods-producing sectors were to blame for the drop, particularly in mining, quarrying and oil and gas extraction. Manufacturing posted growth of 0.7 percent in the month however, partiall…
Canada’s economy contracts in May, but there were signs of a June rebound
The Canadian economy contracted again in May, Statistics Canada said Thursday, but signs of a rebound in June could see growth hold flat for the quarter overall. Real gross domestic product fell 0.1 per cent in May, matching the decline in April. The agency said goods-producing sectors were to blame for the drop, particularly in mining, quarrying and oil and gas extraction. Manufacturing posted growth of 0.7 per cent in the month however, partia…
Coverage Details
Bias Distribution
- 58% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
