Canada GDP Growth Rate  1961-2017 | Data | Chart | Calendar | Forecast

The Canadian economy expanded 0.6 percent on quarter in the last three months of 2016, slowing from a 0.9 percent growth in the previous quarter. Final domestic demand continued to decelerate, with ongoing weakness in business investment. Considering full 2016, the economy expanded 1.4 percent, following a 0.9 growth in 2015. GDP Growth Rate in Canada averaged 0.79 percent from 1961 until 2016, reaching an all time high of 3.33 percent in the fourth quarter of 1963 and a record low of -2.30 percent in the first quarter of 2009.

Canada GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-31 12:30 PM Q2 -0.4% 0.6% -0.9%
2016-11-30 01:30 PM Q3 0.9% -0.3% 1.5%
2017-03-02 01:30 PM Q4 0.6% 0.9% 0.8%
2017-05-31 12:30 PM Q1 0.6% 0.6%
2017-08-31 12:30 PM Q2 0.5%
2017-12-01 01:30 PM Q3 0.3%




Canada GDP Growth Slows to 0.6% In Q4


The Canadian economy expanded 0.6 percent on quarter in the last three months of 2016, slowing from a 0.9 percent growth in the previous quarter. Final domestic demand continued to decelerate, with ongoing weakness in business investment. Considering full 2016, the economy expanded 1.4 percent, following a 0.9 growth in 2015.

Household expenditure grew 0.6 percent, a slightly slower pace than the previous quarter (0.7 percent). Growth was driven by higher outlays on durable goods (2 percent) and financial services such as mutual funds and stock and bond commissions (1.6 percent). Investment in housing increased 1.2 percent.

Exports rose 0.3 percent, following a 2.3 percent gain in the third quarter. Exports of both goods (0.3 percent) and services (0.5 percent) increased. Imports of goods fell 4.1 percent, leading to a 3.5 percent drop in overall imports. Some of this decline was attributable to the one-time import of a large module destined for the Hebron offshore oil project in the third quarter.

Business gross fixed capital formation decreased 2.1 percent, following a 0.5 percent decline in the third quarter. Business investment in non-residential structures fell 5.9 percent following the strong growth in the third quarter (3.5 percent), partly due to a large one-time investment in the Hebron offshore oil project. Investment in machinery and equipment (-2.7 percent) and intellectual property products (-1.9 percent) was also down.

Businesses reduced their inventories by CAD 5.0 billion in the fourth quarter, after accumulating CAD 7.4 billion in the third quarter. Manufacturing inventories were drawn down by CAD 6.9 billion. Retail inventories of motor vehicles were reduced by CAD 1.9 billion, as household purchases of vehicles increased 1.5 percent and imports of passenger cars and light trucks fell 6 percent.

Expressed at an annualized rate, real GDP rose 2.6 percent in the fourth quarter, below an upwardly revised 3.8 percent surge in the third quarter but beating market estimates of a 2 percent growth.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
3/2/2017 1:48:11 PM



Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.90 3.33 -2.30 percent [+]
GDP Annual Growth Rate 1.90 1.40 8.80 -4.10 percent [+]
GDP Growth Annualized 2.60 3.80 9.30 -9.10 percent [+]
GDP 1552.80 1792.90 1842.63 40.77 USD Billion [+]
GDP Constant Prices 1811213.00 1799677.00 1811213.00 760402.00 CAD Million [+]
Gross National Product 2038616.00 2007028.00 2038616.00 343908.00 CAD Million [+]
Gross Fixed Capital Formation 378167.00 384028.00 419349.00 134930.00 CAD Million [+]
GDP per capita 50108.07 50065.23 50108.07 17663.57 USD [+]
GDP per capita PPP 42983.10 42946.36 42983.10 30115.28 USD [+]
GDP From Agriculture 28017.00 28391.00 29136.00 17867.00 CAD Million [+]
GDP From Construction 119687.00 118668.00 129049.00 61200.00 CAD Million [+]
GDP From Manufacturing 178822.00 179996.00 201185.00 149258.00 CAD Million [+]
GDP From Mining 142135.00 142078.00 144021.00 99541.00 CAD Million [+]
GDP From Public Administration 108128.00 108181.00 108181.00 72280.00 CAD Million [+]
GDP From Services 1205930.00 1203926.00 1205930.00 683158.00 CAD Million [+]
GDP From Transport 76814.00 76533.00 76814.00 45420.00 CAD Million [+]
GDP From Utilities 36659.00 37201.00 38469.00 30324.00 CAD Million [+]


Canada GDP Growth Rate Notes

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. Canada GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.90 3.33 -2.30 1961 - 2016 percent Quarterly



gdp growth rate by Country

Last
Turkey 3.80 Dec/16
India 1.60 Dec/16
China 1.30 Mar/17
Australia 1.10 Dec/16
South Korea 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
United States 0.70 Mar/17
Canada 0.60 Dec/16
Germany 0.60 Mar/17
Euro Area 0.50 Mar/17
Japan 0.50 Mar/17
Netherlands 0.40 Mar/17
France 0.30 Mar/17
United Kingdom 0.30 Mar/17
Italy 0.20 Mar/17
Switzerland 0.10 Dec/16
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15
Brazil -0.90 Dec/16