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First-quarter stockpiling drives faster-than-expected growth in Canada's economy

This will likely keep the Bank of Canada on hold, even though the domestic economy needs more support
A Canadian National Railway locomotive pulls a train carrying shipping containers through the CPKC Waterfront Layover Yard in Vancouver, British Columbia. (Getty Images)
A Canadian National Railway locomotive pulls a train carrying shipping containers through the CPKC Waterfront Layover Yard in Vancouver, British Columbia. (Getty Images)
CoStar Analytics
May 30, 2025 | 9:03 P.M.

Canada’s economy grew faster than expected in the first quarter, expanding at a healthy clip with 2.2% annualized quarterly growth. Looking past the headline figure, the economic growth was entirely driven by inventory building and a surge in exports as U.S. companies rushed to stockpile goods before President Trump’s tariffs took effect.

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