OTTAWA – Statistics Canada is set to release gross domestic product data for the month of June and the second quarter as a whole today.
The agency’s early estimates for GDP in the second quarter had been for zero growth as trade uncertainty and tariffs weigh on business and consumer sentiment.
It would mark a sharp slowdown from the 2.2 per cent annualized increase reported for the first quarter, when firms rushed to get ahead of looming tariff deadlines, heightening business activity.
Meanwhile, growth for the month of June is expected to have ticked higher by 0.1 per cent, which would snap a two-month streak of monthly contractions.
Economists at RBC said in a recent note that while tariff uncertainty will continue to put a damper on businesses, CUSMA-exemptions have spared the Canadian economy from the worst-case scenarios.
They add that they expect muted but still positive growth through the rest of the year.
This report by The Canadian Press was first published Aug. 29, 2025.
