Shafaqna English– Official figures published on Friday reveal that Canada’s economy made a decisive turnaround in the second quarter, breaking free from a six-month stretch of near-zero growth. The rebound was fueled by two key factors: a sharp uptick in exports and a sustained level of domestic demand.
Nonetheless, the data also highlights a fresh concern, as the imposition of new U.S. tariffs threatens to cast a shadow over the recovery and inject further volatility into Canada’s economic trajectory.
Statistics Canada reported that the economy expanded at an annualized rate of 3.3% in the second quarter, a pace not witnessed since 2023. This acceleration follows a previously reported first-quarter growth of 0.3%, which has since been revised slightly upward.
The data points to a clear upward trajectory in economic activity, with the second-quarter performance substantially outperforming the sluggish start to the year.
Source: Reuters