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Canada GDP rises in Q2 on export rebound and steady consumption

Canada’s Q2 GDP increased 3.3% on a quarter over quarter annualized basis, while Q1 was revised up to 0.3% from a prior -0.1%.

Reported · Written up by our desk · Central Banks

Canada’s gross domestic product rebounded in the second quarter of 2026, rising 3.3% on a quarter over quarter annualized basis, though it slightly missed the consensus forecast of 3.4%, according to Action Forex.

The release also included an upward revision to the first quarter, which was adjusted to growth of 0.3% on a quarter over quarter basis from an earlier estimate of -0.1%.

Action Forex reports that net trade was a key driver of the Q2 pickup, with exports jumping 15.1% on a quarter over quarter annualized basis, while imports rose 1.1% on the same basis.

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