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Placeline/People

State Province Ontario

Country Canada

Canadian economy contracts in Q2 as tariffs hit

The Canadian economy contracted in the second quarter under the weight of U.S. tariffs. Statistics Canada says real gross domestic product declined 1.6 per cent on an annualized basis in the second quarter on a sharp drop-off in exports and business investment. Some economists say the report supports an interest-rate cut by the Bank of Canada next month. (Aug. 29, 2025)

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Unique identifier: CP174925315

Legacy Identifier: b_StatCan-GDP20250829T1045

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Duration: 1m12s

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Create Date: 8/29/2025 10:45:00 AM

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