Canada’s economic growth lost some momentum in May 2026, with gross domestic product (GDP) expanding 0.3% month-over-month, down from a 0.5% increase in April. The latest figures, updated on 31 July 2026, point to a moderating pace of expansion as the economy moves into the middle of the year.
On a month-over-month basis, the current 0.3% reading reflects a slower rate of growth compared with April’s 0.5%, which itself was measured against March’s output. The comparison framework shows that while the economy continues to grow, the incremental gains are becoming more modest from one month to the next.
The cooling in May’s GDP growth suggests a potential easing in underlying momentum after a stronger April, and will likely be watched closely by market participants and policymakers assessing the durability of Canada’s expansion in the coming months.
