Economy grew 3.3% annualized in Q2 as Q1 figures revised higher: StatCan

OTTAWA — Statistics Canada says the economy grew at its fastest pace in more than three years in the second quarter as exports and business capital investment ramped up.

The agency says real gross domestic product rose 3.3 per cent in the second quarter on an annualized basis while GDP was up 0.3 per cent in June.

StatCan says exports surged last quarter in part because auto production re-accelerated after faltering over the previous six months.

Business capital investment, meanwhile, was up 2.3 per cent in the second quarter, snapping a streak of five consecutive quarters of decline.