Second-quarter expansion accelerates sharply from a revised 0.1% gain in Q1, signaling stronger economic momentum.
Canada’s economy expanded by 0.8% quarter-over-quarter in the second quarter, exceeding expectations and marking a significant pickup from the 0.1% growth recorded in the first quarter. The first-quarter figure was revised higher from an initial estimate of flat growth, according to official data.
The acceleration reflects broad-based gains across sectors, including consumer spending and business investment. Analysts had anticipated a more modest rebound following weak performance earlier in the year. The data suggests resilience in the face of higher interest rates and global economic uncertainty.
Markets are closely watching the report for implications on monetary policy, as the Bank of Canada weighs further rate adjustments amid inflation concerns.