Canada’s real GDP fell 0.4% in Q2 2025, as exports slumped under U.S. tariffs (StatsCan)

Some media outlets are also reporting this as a 1.6% annualized decrease in real GDP (which is the quarterly rate multiplied by 4). While that's technically true, it may seem rather sensationalist since this is the first quarter we've contracted in recent history (since mid 2023) and assumes GDP will continue decreasing by this rate for the next 3 quarters.