Statistics Canada is set to release new gross domestic product (GDP) figures this morning, showing growth in the second quarter after a surprise 1st quarter contraction. A Reuters poll of economists expects the Canadian economy expanded at an annualized rate of 3.4% in Q2. This news follows StatCan's report in May that real GDP declined slightly in the 1st quarter, sparking debate about whether a recession had hit the economy. Economists will be looking for confirmation on whether the 1st quarter contraction was temporary or a sign of deeper economic issues.
Written by the local model on 2026-08-28,
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Story summary
Statistics Canada (StatCan) is set to release updated GDP results for June and the second quarter overall on a certain date, which is unknown from the given text. Economists are predicting that the Canadian economy will have rebounded sharply in Q2, with some expecting an annualized growth rate of 3.4% according to a Reuters poll by LSEG Data & Analytics. This would be a significant improvement over the previous quarter, when StatCan reported a slight decline in real GDP, sparking debates about whether Canada had entered a recession. The release of Q2 data will help confirm whether this was indeed a temporary contraction or a sign of a broader economic trend. RBC economists also predict that Q2 GDP will exceed 3% growth.
Written for “Canadian Economic Growth” on 2026-08-31,
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No political leaning scored for article 3013 · logged 2026-08-28
Economists are expecting fresh data will show growth rebounded sharply in the second quarter of the year when Statistics Canada publishes new gross domestic product figures this morning.
asserted
Canada → expect → figures
StatCan is set to report updated GDP results for June and the second quarter overall.
asserted
StatCan → set → June
A Reuters poll of economists expects the Canadian economy expanded at an annualized rate of 3.4 per cent in the second quarter, according to LSEG Data & Analytics.
uncertain
economy → expect → Data
RBC economists also believe GDP will top three per cent for the second quarter as the economy bounced back from some temporary drags on growth in the previous three months.
asserted
economy → believe → months
StatCan reported back in May that real GDP declined slightly in the first quarter, fuelling debates over whether a recession had hit the economy.
uncertain
recession → report → economy
The agency regularly revises its data and economists will be looking for confirmation of whether or not the economy really did start the year with a mild contraction.
asserted
economy → revise → contraction
