What You Need to Know
Today’s GDP numbers show positive momentum for Canada’s economy.
Real GDP rose by 3.3% at an annualized rate in the second quarter of 2026, while first-quarter growth was revised upward to 0.3%, from a previously reported 0.1% decline.
This rebound was led by stronger exports, household spending, residential investment, and business investment – signs that Canada’s economy is growing even in the face of global uncertainty and trade volatility.
Exports rose sharply in the second quarter, supporting Canada’s work to diversify trade and reach new markets. Household spending also accelerated, while residential investment and business investment both rebounded.
Nominal GDP – the broadest measure of the tax base – rose by 13.8% in the second quarter, driven by real growth and a 10.1% increase in GDP inflation. This marks the largest increase in both GDP inflation and nominal GDP since the second quarter of 2022.
These numbers show that Canada’s economic plan is delivering: diversifying trade, advancing major projects, investing in workers, driving down costs, and building a stronger, more resilient, and more competitive economy.
