Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsEconomyCanada's GDP beats expectations as rebound gathers steamSecond quarter on track for 3.4% annualized growthLast updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.Employees torque a pipe at a wedge well in Alberta. The oil and gas sector helped drive GDP gains in May. Photo by Brent Lewin/BloombergCanada’s real gross domestic product grew by 0.3 per cent in May, continuing a strong start to the second quarter of 2026.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorGains were mainly driven by the mining, quarrying, and oil and gas extraction sectors, which grew by one per cent month-over-month in May, Statistics Canada said. This is the second consecutive month where these sectors led economic growth.Manufacturing also saw growth, expanded by 0.3 per cent, driven by non-durable goods manufacturing industries.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againConstruction activity also grew for the second consecutive month, expanding by 0.8 per cent in May.Economists largely expected the Canadian economy to rebound in the second quarter of 2026, after it contracted by 0.1 per cent on an annualized basis in the first quarter.The Bank of Canada’s latest Monetary Policy Report said the economy is showing signs of improvement after a year of weakness, and officials forecast 2.5 per cent growth in the second quarter of 2026.Statistic Canada’s flash estimates suggest the economy grew by 0.2 per cent in June led by increases in wholesale and retail trade as well as finance and insurance. Including the June estimate, officials said the economy likely expanded by 0.8 per cent in the second quarter and is on track for an annualized growth rate of 3.4 per cent.More to come … Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.