Canada GDP Growth Rate 1961-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Canada expanded 0.70 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in Canada averaged 0.82 percent from 1961 until 2014, reaching an all time high of 3.33 percent in the fourth quarter of 1963 and a record low of -1.80 percent in the first quarter of 2009. GDP Growth Rate in Canada is reported by the Statistics Canada.

      Forecast    
Canada GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.90 3.33 -1.80 1961 - 2014 percent Quarterly
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 provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Canada GDP Growth Rate - was last refreshed on Saturday, December 20, 2014.


Canada GDP Growth Slows in Q3


The Canadian economy expanded 0.7 percent in the third quarter, following a 0.9 percent rise in the previous period. Net exports, consumer spending and investment contributed the most to the growth while inventories dragged the expansion down.

Household final consumption expenditure advanced 0.7% in the third quarter, a slower pace than in the second quarter (+1.1%). Consumers increased spending on goods by 0.9%, led by durable goods (+3.0%), whereas spending on services grew 0.5% following a stronger second quarter. Transport purchases (+2.1%) contributed the most to the growth in household final consumption, boosted by a 4.6% increase in purchases of vehicles. Outlays on housing, water, electricity, gas and other fuels (+0.5%), recreation and culture (+1.0%) and furnishings, household equipment and other goods and services (+1.1%) also contributed to the growth.

Business gross fixed capital formation was up 1.5 percent. Business investment in residential structures rose 3.0 percent, the fastest pace since the first quarter of 2012. Ownership transfer costs (+7.3 percent), an indicator of resale activity, and new home construction (+2.3 percent) were the main contributors to the growth. Business investment in non-residential structures, machinery and equipment edged up 0.1 percent.

Exports of goods and services advanced 1.7 percent after increasing 4.4 percent in the second quarter. Imports rose 1.0 percent despite a 1.4 percent decline in imports of services.

Businesses added $624 million in inventories in the third quarter, after accumulating $4.8 billion in the second quarter. Inventory accumulation has slowed throughout 2014.

The value added of service industries grew 0.8 percent in the third quarter. There were notable gains in wholesale and retail trade, finance and insurance services, at offices of real estate agents and brokers and in professional services. Increases were also recorded in the public sector (education, health and public administration combined), transportation and warehousing services as well as accommodation and food services.

The output of goods-producing industries edged up 0.1 percent in the third quarter. Notable gains in manufacturing and construction were mostly offset by declines in the agriculture and forestry, mining and oil and gas extraction, and utilities sectors.

Expressed at an annualized rate, real GDP expanded 2.8 percent in the third quarter. 

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
11/28/2014 2:58:17 PM


Recent Releases

Canada GDP Growth Beats Expectations
Canadian GDP rose 0.8 percent in the second quarter of 2014, following a revised 0.2 percent increase in the first quarter. This was the largest quarterly gain since the third quarter of 2011, as all sectors of the economy increased except non-profit institutions serving households. Published on 2014-08-29

Canadian GDP Growth Slows to 2-Year Low in Q1
In the first quarter of 2014, Canadian economy expanded 0.3 percent, following 0.7 percent growth in the previous period. This was the smallest increase since the fourth quarter of 2012, mainly due to a sharp fall on investment and exports. Published on 2014-05-30


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-30 01:30 PM
GDP Growth Rate QoQ  Q1
0.3% 0.7% 0.94%
2014-08-29 01:30 PM
GDP Growth Rate QoQ  Q2
0.8% 0.2% (R) 0.7% 0.73%
2014-11-28 01:30 PM
GDP Growth Rate QoQ  Q3
0.7% 0.9% (R) 0.6%
2015-03-03 01:30 PM
GDP Growth Rate QoQ  Q4
0.7% 0.5%
2015-05-29 01:30 PM
GDP Growth Rate QoQ  Q1
0.9%
2015-08-28 01:30 PM
GDP Growth Rate QoQ  Q2
0.89%


Canada GDP Last Previous Highest Lowest Unit
GDP 1825.10 1821.45 1825.10 40.77 USD Billion [+]
GDP Growth Rate 0.70 0.90 3.33 -1.80 percent [+]
GDP Growth Annualized 2.80 3.60 8.54 -8.99 percent [+]
GDP Annual Growth Rate 2.59 2.54 8.80 -3.70 percent [+]
GDP Constant Prices 1754476.00 1742205.00 1754476.00 758823.00 CAD Million [+]
Gross National Product 1962696.00 1939496.00 1962696.00 343088.00 CAD Million [+]
GDP per capita 37519.66 37208.25 37519.66 12931.42 USD [+]
Gross Fixed Capital Formation 409151.00 403883.00 409151.00 134073.00 CAD Million [+]
GDP per capita PPP 41888.78 41541.12 41888.78 29933.20 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.30 Aug/14 0.50 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.70 Aug/14 0.90 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.50 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.50 1.53 -1.60 percent [+]
Switzerland 0.60 Aug/14 0.30 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.90 Aug/14 4.60 16.90 -10.00 percent [+]