Canada GDP Expands Further

The Canadian GDP is expected to have expanded by 0.2% from the previous month in August 2026, according to a flash estimate.Growth likely reflected gains in mining and quarrying and retail trade, partly offset by declines in oil and gas extraction. The figure follows a flat reading in July, in line with market expectations, following three consecutive months of growth. The goods-producing sector, which contributes roughly a quarter of the GDP, was essentially unchanged in July, as increases in construction (1.3%) and utilities (1.7%) were offset by declines in manufacturing (-0.9%) and mining, quarrying and oil and gas (-0.5%). Simultaneously, the services-producing industries aggregate remained flat, as growth in sectors such as professional, scientific and technical services (0.3%); real estate and rental and leasing (0.2%) and accommodation and food services (0.8%) was offset by declines in retail trade (-1%) and wholesale trade (-0.4%).

The Canadian GDP is expected to have remained unchanged from the previous month in July of 2026, according to a flash estimate. Preliminary evidence pointed to an increase in real estate, rental and leading, and professional, scientific, and technical services, which offset a decline in retail trade and manufacturing. The figure follows a 0.3% expansion in June, revised higher from a 0.2% increase.

The Canadian GDP is expected to have grown by 0.2% from the previous month in June of 2026, translating to a 0.8% expansion in the second quarter. The preliminary data indicated higher output for wholesale, finance and insurance, and retail trade. These offset declines for utilities and agriculture. Richer data showed that the GDP expanded by 0.3% in May, reflecting some resilience despite the inflationary pressure from higher energy prices in the period due to the war in Iran. Goods producing industries expanded by 0.6% amid as higher oil and gas prices lifted mining, quarrying, and oil and gas extraction output by 1%. Meanwhile, services expanded by 0.2%, as a 0.4% growth rate in real estate and 0.3% jump in retail trade offset a 0.4% contraction in wholesale trade.