canada-gdp-contracts-1.6%-in-q2,-us-tariffs-weigh-on-exports,-first-decline-in-seven-quarters

Canada’s economy experienced a contraction of 1.6% in the second quarter, marking the first GDP decline in seven quarters. This downturn was largely attributed to a sharp 7.5% fall in exports, significantly impacted by tariffs imposed by the US. The decline has fueled speculation that the Bank of Canada might consider cutting interest rates in September.