Canada GDP contracts -04% qoq in Q2, tariffs hit exports hard

Canada’s economy shrank -0.4% qoq in Q2, as exports and business investment fell sharply. The downturn was led by a steep -7.5% drop qoq in exports, with machinery, travel services, and particularly autos hit hard by U.S.-imposed tariffs. Passenger car and light truck exports plunged -24.7% qoq. Meanwhile, imports fell -1.3% in the quarter, reflecting […]

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