Canada's Economy Posts 3.3% Annual Growth in Q2

Statistics Canada released data on Friday showing the economy grew at a healthy clip in the second quarter, dispelling earlier fears of a recession.

The country's real gross domestic product (GDP) rose 3.3 per cent annually in Q2, the fastest quarterly pace since early 2023.

Exports jumped 3.6 per cent, driven by a rebound in passenger car and light truck shipments, which had declined in the previous two quarters.

Residential investment also contributed to growth as the resale housing market heated up over spring, particularly in Ontario, Quebec, and British Columbia.