"The Canadian economy contracted sharply in the second quarter as trade tensions with the United States hammered exports and weighed on business investment. Real gross domestic product declined 1.6 per cent at an annualized rate, the first quarterly contraction in nearly two years, statistics Canada reported on Friday. The result was in line with the Bank of Canada's projection but considerably worse than Bay Street analysts were anticipating...” (Mark Rendell, 2025)
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Rendell, Mark. (2025, August 26th) Canada's economy contracts sharply in second quarter as tariffs hit exports. Available from the Globe and Mail: https://www.theglobeandmail.com/business/article-canadas-economy-contracts-sharply-in-second-quarter-as-tariffs-hit/