Statistics Canada says the economy grew at its fastest pace in more than three years in the second quarter as exports and business capital investment ramped up. The agency says real gross domestic product rose 3.3 per cent in the second quarter on an annualized basis while GDP was up 0.3 per cent in June. StatCan says exports surged last quarter in part because auto production re-accelerated after faltering over the previous six months. Business capital investment, meanwhile, was up 2.3 per cent in the second quarter, snapping a streak of five consecutive quarters of decline. Back in May, StatCan’s report suggesting the economy had contracted marginally in the first quarter of 2026 spurred some debate over whether Canada might be in a recession. But the agency now says as part of its regular revisions that growth in the first quarter of the year was actually somewhat positive, quashing talk of a prolonged downturn. This report by The Canadian Press was first published Aug. 28, 2026.
