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Canada's second quarter GDP recovers sharply as domestic demand revives, exports grow
Exports climbed 3.6% and final domestic demand rose 1%, Statistics Canada said, as household spending and business investment recovered.
- Statistics Canada reported Friday that Canada's economy rebounded in the second quarter with an annualized growth rate of 3.3%, surpassing the Bank of Canada's 2.5% forecast after six months of stagnation.
- Outbound shipments surged 3.6%, the fastest export pace in years, while final domestic demand rebounded to 1% as household consumption rose, signaling recovery from 18 months of trade war caution.
- Business investment expanded 2.3% in the second quarter, ending a contraction. Government asset-creating expenditure continued its decline, contracting 2.9% following a 2.6% drop in the first quarter, highlighting private-sector-led recovery.
- Strong domestic consumption leaves Canada on a firmer footing to withstand new 50% tariffs imposed this week by President Donald Trump, who sparked an 18-month trade disruption that Canada countered with retaliatory measures.
- Monthly GDP growth beat forecasts at 0.3% against a 0.2% expectation, yet advanced indicators show the economy remained largely flat in the following month, suggesting second-quarter momentum may be cooling.
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7 Articles
Real gross domestic product posted sustained growth of 3.3% in the second quarter, according to Statistics Canada.
·Montreal, Canada
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Canada Economy Grows 3.3% in Second Quarter, Fastest Since '23
Growth in Canada’s real gross domestic product accelerated to 3.3% in the second quarter, confirming a strong economic rebound after a yearlong slump brought on by US tariffs and a slowdown in immigration.
·New York, United States
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Canada's second quarter GDP recovers sharply as domestic demand revives, exports grow
Canada's economy rebounded sharply in the second quarter after six months of virtually no growth, aided by strong jump in exports and solid domestic demand, data showed on Friday.
·London, United Kingdom
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Coverage Details
Total News Sources7
Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
Factuality
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