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28.08.202612:30:00UTC+00Canada’s Economy Springs Back: Q2 2026 Annualized GDP Jumps to 3.3%

Canada’s economy rebounded sharply in the second quarter of 2026, with annualized GDP growth accelerating to 3.3% from a slight contraction of -0.1% in the first quarter. The latest data, updated on 28 August 2026, signal a marked turnaround in quarterly momentum after a flat start to the year.

The figures are presented on a quarter-over-quarter annualized basis, meaning the current 3.3% reading reflects how the economy would grow over a year if the second quarter’s pace persisted. By comparison, the previous reading of -0.1% in the first quarter of 2026 represented a marginal decline versus the quarter before it, underscoring the scale of the subsequent bounce.

The strong second-quarter performance suggests that underlying activity has strengthened noticeably from earlier in the year. While the data do not detail the drivers of growth, the shift from near-zero to solid positive territory will likely reshape expectations around Canada’s near-term economic trajectory and policy outlook.

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