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Canada’s GDP Stays Flat in July, Construction Rises 1.3%

By Drooid · Oct 1, 2026, 10:24 PM UTC · How we work

Summary

Story summary

Statistics Canada reported real GDP was essentially unchanged in July.
Construction output rose 1.3% in July, marking a fourth consecutive month of growth.
Utilities output grew 1.7% in July as a heat wave boosted electricity demand.
June GDP was revised up to 0.4% annualized growth from 0.3%.
KPMG expects the 50% U.S. tariffs, effective Aug. 22, to cut Canadian GDP by about half a percentage point this year.

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Story summary

Statistics Canada reported real GDP was essentially unchanged in July.
Construction output rose 1.3% in July, marking a fourth consecutive month of growth.
Utilities output grew 1.7% in July as a heat wave boosted electricity demand.
June GDP was revised up to 0.4% annualized growth from 0.3%.
KPMG expects the 50% U.S. tariffs, effective Aug. 22, to cut Canadian GDP by about half a percentage point this year.