Canada’s GDP managed to grow for the first time in four months in July, even as the economic impacts of American tariffs began settling in, according to Statistics Canada.
On Friday, the agency reported that the gross domestic product increased by 0.2 per cent in July compared with the month prior.
The figure was slightly higher than the 0.1 per cent increase most analysts polled were expecting.
July’s GDP reading marks the first report on economic growth in Canada during the third quarter of 2025, which ends in September. It won’t be clear until data releases later this year whether Canada has officially skirted a recession.
During the second quarter of the year, from April through June, Statistics Canada reported that the Canadian economy shrank by 0.4 per cent compared with the first quarter, and was down 1.6 per cent compared with the second quarter in 2024.
— More to come
