Published • loading... • Updated
Canadian economy contracts 1.6% in Q2 as tariffs hit, StatCan says
Exports fell 7.5% due to U.S. tariffs on steel, aluminum, and autos, causing a 1.6% annualized GDP contraction in Q2, with business investment also down 0.6%.
- The Canadian economy contracted at an annualized rate of 1.6% in the second quarter due to U.S. tariffs, according to Statistics Canada.
- Exports and business investment sharply declined, with international exports of passenger cars and light trucks dropping 24.7% in the quarter, as reported by StatCan.
- Real GDP was down per capita, following a previous quarter's gain, with June showing a 0.1% decline, matching contractions in April and May, as noted by StatCan.
Insights by Ground AI
62 Articles
62 Articles
Canada’s GDP Shrank by 1.6 Percent in Second Quarter of 2025
Canada’s Gross Domestic Product (GDP) shrank by 1.6 percent on an annualized basis in the second quarter of 2025 due to a decline in exports and business investment stemming from U.S. tariffs, after rising by 0.5 percent in the first quarter. Statistics Canada said in its Aug. 29 briefing that these declines were offset by businesses accumulating inventory, higher household spending, and lower imports of various goods. Overall, Canada’s economy …
·New York, United States
Read Full Article
The Toronto StarReposted by 
WellandTribune.ca
WellandTribune.caTrump tariffs slam Canada, new GDP numbers show
Canada’s second quarter GDP numbers come in worse than expected.
·Toronto, Canada
Read Full ArticleCoverage Details
Total News Sources62
Leaning Left25Leaning Right6Center9Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 22%
15%
Factuality
To view factuality data please Upgrade to Premium
