Statistics Canada released data on gross domestic product Friday. Photo by THE CANADIAN PRESS/Darryl Dyck

Canada’s economy contracted in the second quarter of this year due to “significant declines” in the export of goods, driven by United States-imposed tariffs , and decreased business investment in machinery and equipment, Statistics Canada reported Friday.

Real gross domestic product (GDP) , which measures the total monetary value of goods and services produced in a country, declined 0.4 per cent after a 0.5 per cent gain the previous quarter, the national data agency said. On a per capita basis, GDP was down 0.4 per cent, after an increase of 0.4 per cent in the previous quarter.

Annualized, the economy shrank 1.6 per cent in the second quarter, slowing from growth of two pe

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