Canada’s Economy Grew 3.3% Annualized in Second Quarter, First Quarter Growth Revised Upward

The revision to Q1 growth means claims of a technical recession, hyped up by some politicians as a ‘full-blown recession’, were factually incorrect.

Canada’s economy continues to show strength even amid ongoing efforts by Donald Trump to wreck our economy. Statistics Canada’s GDP report shows Canada’s economy grew by 3.3% on an annualized basis in Q2 of this year. Q1 growth was revised upwards from 0.0% (the figure was just barely negative) to 0.1%. This means there was no contraction in Q1, which means there was no recession, technical or otherwise.

This is notable, given that some politicians had sought to claim Canada was in a “full-blown” recession, claims which have no factual basis.

Making these economic gains more impressive is that Canada’s population is in decline, meaning there is real per capita GDP growth, as Statistics Canada noted:

“On a per capita basis real GDP increased 1.0% in the second quarter of 2026, as the Canadian population declined for the third consecutive quarter.”

Annualized, per capita GDP was up 3.9%.

Canadian exports were up 3.6%, household consumption rose 0.8%, employee compensation rose 1.5%, and the household savings rate was up 3.7%.

Canada’s economy continues to show strength. That strength will now be tested even further as Trump escalates his assault on our nation.

Spencer Fernando