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Randall Bartlett confirms Canada's economy grew by 3.3 per cent in the second quarter of 2026.

Canada's economy expanded by 3.3 per cent on an annualized basis in the second quarter of 2026, marking the fastest quarterly growth since 2023. Statistics Canada revised earlier data to show a 0.3 per cent growth in the first quarter, confirming that the country was not in a recession during that period. Randall Bartlett, deputy chief economist with Desjardins Group, noted that growth was primarily driven by higher exports, business capital investment, and household spending. While the second quarter showed a rebound, economists warn that momentum may not be sustained. Randall Bartlett highlighted that escalating trade tensions with the U.S. and threats from President Trump to implement Section 338 tariffs may cause uncertainty for businesses. These tariffs could potentially push Canada's unemployment rate to seven per cent by the end of the year. Despite these risks, Abbey Xu of RBC Economics suggests that consumer spending remains resilient and the Bank of Canada is likely to keep interest rates on hold for the remainder of 2026.

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