Canada Economy Bounces Back with 3.3% Annualized Growth

Canada's economy has bounced back from a brief recession, growing at an annualized rate of 3.3% in the second quarter. This is its fastest pace of growth in three years and marks the first expansion since the previous two quarters.

The recovery was led by higher exports, which rose 3.6%, driven by increased shipments of passenger cars and light trucks, as well as metals and energy products like oil and natural gas.

Business capital investments also increased, with engineering structures rising 2.3% after two consecutive quarters of declines.