Québec, September 23, 2026. – In the second quarter of 2026, Québec’s real gross domestic product (GDP) was up 0.2% from the previous quarter (+0.4%). At an annualized rate, this was a 0.8% increase.
The improved trade balance was the main driver of real GDP growth in the second quarter. Final consumption expenditure also contributed to this growth, particularly household expenditure. However, real GDP growth was mitigated by a slowdown in inventory investment. This information comes from the publication Comptes économiques du Québec, 2e trimestre 2026 released by the Institut de la statistique du Québec.
Real gross domestic product at market prices and its main components1
(percentage change)
| Québec | Canada | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2026 | ||||||
| Q1 | Q2 | Year to date2 | Q1 | Q2 | Year to date2 | ||
| Real gross domestic product at market prices | 0.4 | 0.2 | 0.2 | 0.1 | 0.8 | 0.6 | |
| Final domestic demand | 0.0 | 0.5 | 0.5 | 0.0 | 1.0 | 1.4 | |
| Final consumption expenditure3 | -0.1 | 0.7 | 0.7 | 0.4 | 0.9 | 1.8 | |
| Households | 0.2 | 0.7 | 0.9 | 0.6 | 0.8 | 2.1 | |
| General governments | -0.6 | 0.7 | 0.1 | 0.0 | 1.0 | 1.0 | |
| Gross fixed capital formation3 | -0.3 | 0.0 | -0.2 | -1.5 | 1.3 | 0.4 | |
| Businesses | 0.1 | 0.2 | -1.5 | -1.3 | 2.3 | -1.0 | |
| General governments | -1.9 | -0.8 | 4.5 | -2.6 | -2.9 | 6.5 | |
| Exports of goods and services | -1.2 | 2.9 | -0.9 | 0.3 | 3.6 | 1.3 | |
| Imports of goods and services | 0.5 | 1.2 | -1.2 | 3.1 | 0.3 | 1.0 | |
1. Changes in real gross domestic product at market prices and its components are calculated from seasonally adjusted data and are expressed in chained dollars using the chain Fisher index (reference year 2017).
2. Change in the first two quarters of 2026 from the first two quarters of 2025.
3. Includes data on non-profit institutions serving households, which are not shown in this table.
Sources
Statistics Canada, Macroeconomic Accounts Branch.
Institut de la statistique du Québec, Direction des statistiques économiques.
Trade balance improved as exports rose 2.9%
Foreign trade was the main driver of real GDP growth in the second quarter of 2026 with a 2.9% increase in total exports of goods and services, which had declined by 1.2% in the previous quarter. Total imports (+1.2%) increased less than total exports in the second quarter, which explains the improved trade balance.
Final consumption expenditure up 0.7%
Overall final consumption expenditure was up 0.7% in the second quarter of 2026 after a 0.1% decrease in the previous quarter. This increase in consumption was generalized across all sectors: households (+0.7%), governments (+0.7%), and non-profit institutions serving households (+1.0%).
$5.2 billion slowdown in inventory investment
Investment in inventories were down $5.2 billion, going from a $1.8 billion increase in the first quarter of 2026 to a $3.4 billion reduction in the second quarter. This inventory drawdown therefore detracted from real GDP growth in the second quarter.
Canada’s real GDP up 0.8% in the second quarter of 2026
According to information released by Statistics Canada on August 28, Canada’s real GDP was up 0.8% in the second quarter of 2026 after an increase of only 0.1% in the previous quarter.
Québec’s real GDP up 0.4% in June 2026
In June 2026, Québec’s real GDP was up 0.4% from the previous month, after a 0.1% decline in May 2026. That was revealed in Produit intérieur brut par industrie au Québec, juin 2026 released today by the Institut de la statistique du Québec.
Goods production increased by 0.4%
Output in the goods-producing industries was up 0.4% in June after decreasing 0.7% in May. Growth in June came mainly from the construction (+0.9%) and manufacturing (+0.4%) sectors. On the other hand, the mining, quarrying, and oil and gas extraction sector (-2.3%) was down in June.
The increase in manufacturing was due to the primary metal manufacturing (+5.0%), computer and electronic product manufacturing (+6.6%), and plastics and rubber products manufacturing (+6.1%) subsectors.
Service production up 0.4%
In June, output in the service industries rose 0.4% following a 0.1% increase in May. The growth in June was mainly attributable to wholesale trade (+2.8%), retail trade (+1.7%), and public administration (+1.1%). In contrast, health care and social assistance (-0.5%) and professional, scientific and technical services (-0.6%) were down in June.
Second quarter of 2026: goods production down 0.3% and service production up 0.4%
In the second quarter of 2026, goods production decreased (-0.3%) while service production increased (+0.4%). The decline in goods production came mainly from drops in utilities (-1.2%), construction (-0.3%), and mining, quarrying, and oil and gas extraction (-1.6%). Growth in service output was mainly supported by public administration (+1.4%), accommodation and food services (+2.3%), transportation and warehousing (+1.0%), and finance and insurance (+0.2%).
Canada’s real GDP up 0.3% in June 2026
According to information published by Statistics Canada on August 28, 2026, Canada’s real GDP grew 0.3% in June following a similar increase in May. In June, goods-producing industries were down 0.1% while service-producing industries were up 0.4%.
The Institut de la statistique du Québec is the public body responsible for providing reliable, objective statistics about Québec society. The relevance of its work makes it a strategic ally for decision makers and an essential source of information for all those wishing to learn more about Québec.