Canada Q2 GDP grows 3.3% as exports and domestic demand rebound

Canada's economy rebounded strongly in the second quarter, growing at an annualized rate of 3.3 percent, according to data released by Statistics Canada on Friday, August 28, 2026. The robust expansion follows a period of near-stagnation and effectively erases earlier concerns that the country had entered a technical recession. The growth, which exceeded the Bank of Canada's July forecast of 2.5 percent, was driven by a significant jump in exports and solid domestic demand. Statistics Canada also revised the first quarter's performance upward, from a slight contraction to a 0.3 percent annualized gain.