FX.co ★ Canada GDP Expands Further

Canada’s GDP is projected to have grown by 0.2% in June 2026 from the previous month, implying a 0.8% expansion for the second quarter. Preliminary estimates point to stronger output in wholesale, finance and insurance, and retail trade, which more than offset declines in utilities and agriculture.

Revised data show that GDP rose by 0.3% in May, underscoring a degree of resilience despite inflationary pressures stemming from higher energy prices linked to the war in Iran. Goods-producing industries expanded by 0.6%, as rising oil and gas prices boosted mining, quarrying, and oil and gas extraction by 1%. Meanwhile, services output increased by 0.2%, with a 0.4% gain in real estate and a 0.3% rise in retail trade outweighing a 0.4% decline in wholesale trade.