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Canada GDP Growth RateThe Gross Domestic Product (GDP) in Canada expanded 0.40 percent in the fourth quarter of 2011 over the previous quarter. Historically, from 1961 until 2011, Canada GDP Growth Rate averaged 0.8 Percent reaching an all time high of 3.3 Percent in December of 1963 and a record low of -1.8 Percent in March of 2009. The Gross Domestic Product (GDP) growth rate provides an aggregated measure of changes in value of the goods and services produced by an economy. Canada's economy is diversified and highly developed. The foundation of Canadian economy is foreign trade and the United States is by far the nation's largest trade partner. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada is one of the few developed nations that is a net exporter of energy. This page includes a chart with historical data for Canada GDP Growth Rate.
Canada's Economy Expands 0.4% in Q4
Published on 3/2/2012 2:04:19 PM
| By TradingEconomics.com, Statistics Canada
Real gross domestic product (GDP) rose 0.4% in the fourth quarter, after advancing 1.0% in the third quarter. Consumer spending and exports contributed the most to fourth-quarter GDP growth. Final domestic demand grew 0.5%.
Consumer spending on goods and services expanded 0.7% in the fourth quarter, up from the 0.4% gain in the previous quarter. Purchases of durable goods grew 2.1%, up from a 0.2% decline.
Business investment in plant and equipment advanced 2.0%, the eighth consecutive quarterly increase. Housing investment slowed to 0.8% in the fourth quarter, well below the 2.5% increase in the previous quarter.
Exports advanced 1.1% in the fourth quarter, down from a 3.8% gain in the third quarter. Imports rose 0.5%, after falling 0.4%.
Both goods-producing (+0.5%) and services (+0.4%) industries grew in the fourth quarter. Manufacturing, retail trade, and oil and gas extraction were the main contributors to the growth. Gains also occurred in professional, scientific and technical services, the public sector (education, health services and public administration combined) and construction. Mining excluding oil and gas extraction, utilities, wholesale trade, and the finance and insurance sector decreased during the quarter.
Manufacturing increased 1.5%, mostly on higher production of transportation equipment and machinery. There were widespread gains in retail trade (+1.4%), while wholesale trade declined 0.6%. Oil and gas extraction rose 0.9% in the fourth quarter, largely on increased natural gas production, as oil extraction was limited by maintenance activities during the quarter. Construction edged up 0.2% as declines in non-residential building construction partially offset the strength in engineering and repair works. Mining excluding oil and gas extraction decreased 3.8%, mainly because of a decline in output at potash mines as a result of lower foreign demand for fertilizer. Utilities declined 1.6% as unseasonably warm weather contributed to lower demand for electricity.
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GDP Growth Rate
The Gross Domestic Product growth rate measures the increase in value of the goods and services produced by an economy. Economic growth is usually calculated in real terms or inflation-adjusted terms, in order to net out the effect of changes on the price of the goods and services produced. The Gross Domestic Product can be determined using three different approaches, which should give the same result. These different methods are the product technique, the income technique , and the expenditure technique. In sum, the product technique sums the outputs of every class of enterprise to arrive at the total. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. The real GDP per capita of an economy is often used as an indicator of the average standard of living of individuals in that country, and economic growth is therefore often seen as indicating an increase in the average standard of living. However, there are some problems in using growth in GDP per capita to measure the general well-being of a country´s population. In fact, GDP was first developed by Simon Kuznets for a US Congress report in 1934, who immediately said not to use it as a measure for welfare. First, GDP per capita does not provide much information relevant to the distribution of income in a country. Second, GDP per capita does not take into account negative externalities such as pollution consequent to economic growth. Third, GDP per capita does not take into account positive externalities that may result from services such as education and health. Finally, GDP per capita excludes the value of all the activities that take place outside of the market place such as free leisure activities or less positive activities like organized crime.
CANADA NEWS
Canada's Unemployment Rate Up to 7.3% in April
Published: 5/11/2012 1:39:49 PM
By: TradingEconomics.com, Statistics Canada
Canada's employment increased by 58,000 in April, mostly in full-time work. This was the second consecutive month of notable gains after four months of little change. With more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3%.
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Canada's Trade Surplus Widens in March
Published: 5/10/2012 1:50:11 PM
By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports edged down 0.4% and imports decreased 0.6%. As a result, Canada's trade surplus increased from $273 million in February to $351 million in March.
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Bank of Canada Keeps Overnight Rate at 1%
Published: 4/18/2012 11:47:59 AM
By: Bnak of Canada
The Bank of Canada announced on April 17th that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
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Canada's Trade Surplus Narrows in February
Published: 4/12/2012 1:45:02 PM
By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports declined 3.9% and imports edged up 0.2%. As a result, Canada's trade surplus decreased from $1.9 billion in January to $292 million in February.
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Canada's Unemployment Down to 7.2% in March
Published: 4/5/2012 3:46:43 PM
By: TradingEconomics.com, Statistics Canada
Following four months of little change, employment increased by 82,000 in March, mostly in full-time work. This brought the unemployment rate down 0.2 percentage points to 7.2%.
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Canada's Inflation Rate Up to 2.6% in February
Published: 3/23/2012 11:23:31 AM
By: TradingEconomics.com, Statistics Canada
Led by increases in energy and food, consumer prices rose 2.6% in the 12 months to February after increasing 2.5% in January.
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Canada's Trade Surplus Narrows in January
Published: 3/9/2012 2:03:30 PM
By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports declined 2.3% and imports edged down 0.6%. As a result, Canada's trade surplus narrowed from $2.9 billion in December 2011 to $2.1 billion in January 2012. This was the third consecutive monthly trade surplus.
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Canada's Unemployment Rate Down to 7.4% in February
Published: 3/9/2012 12:21:06 PM
By: TradingEconomics.com, Statistics Canada
A decline in the number of people searching for work pushed the unemployment rate down 0.2 percentage points to 7.4%. Compared with 12 months earlier, employment was up by 121,000 (+0.7%), with the bulk of the increase occurring in the first half of the period.
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Bank of Canada Keeps Overnight Rate Target at 1%
Published: 3/8/2012 3:04:55 PM
By: TradingEconomics.com, Bank of Canada
The Bank of Canada announced on March 8th that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
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Canada's Economy Expands 0.4% in Q4
Published: 3/2/2012 2:04:19 PM
By: TradingEconomics.com, Statistics Canada
Real gross domestic product (GDP) rose 0.4% in the fourth quarter, after advancing 1.0% in the third quarter. Consumer spending and exports contributed the most to fourth-quarter GDP growth. Final domestic demand grew 0.5%.
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