Canada’s economy barely grew in the second quarter, new figures revealed on Friday, lending further evidence that growth has stalled amid falling US demand for Canadian exports.

Gross domestic product expanded by just 0.1 per cent over the quarter – just 0.3 per cent on an annualised basis – much less than the Bank of Canada and most private forecasters were expecting. This follows a slip in GDP in the first quarter, and suggests that Canada is skirting the brink of a technical recession.