Quebec's real gross domestic product (GDP) rose by 0.3 per cent in the first quarter of 2026, according to data released by Statistics Canada. The increase was driven in part by the Montreal Canadiens' playoff run and the rescheduling of the Formula 1 Grand Prix.
Economic Drivers
The Canadiens' postseason success boosted consumer spending and tourism in Montreal, while the earlier date of the F1 race contributed to higher economic activity in the province. These events helped offset weakness in other sectors, such as manufacturing and construction.
Statistics Canada reported that the overall Canadian economy grew at an annualized rate of 1.7 per cent in the first quarter, with Quebec's performance slightly below the national average.
Impact on Sectors
The service sector led growth in Quebec, particularly in accommodation, food services, and retail trade. The sports and entertainment industries saw a sharp uptick in revenues due to the Canadiens' playoff games and the Grand Prix.
However, the goods-producing sector contracted, with declines in manufacturing output and residential construction. The province's mining and oil extraction industries also faced headwinds from lower global demand.
Forecast and Outlook
Economists expect Quebec's economy to continue recovering in the second quarter, supported by a strong tourism season and government infrastructure spending. However, risks remain from inflation, supply chain disruptions, and potential slowdowns in key export markets.
“The Habs playoff run and F1 were a welcome boost, but we need sustained investment in other sectors to maintain growth,” said a spokesperson for Quebec's Ministry of Economy and Innovation.
