Canada GDP Growth Rate  1961-2016 | Data | Chart | Calendar | Forecast

The Canadian economy expanded 0.9 percent on quarter in the three months to September of 2016, following a downwardly revised 0.3 percent contraction in the previous period. It is the highest growth rate since the second quarter of 2014, boosted by exports of energy while domestic demand slowed. Expressed at an annualized rate, the economy expanded 3.5 percent, better than market expectations of 3.4 percent. 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)
2016-05-31 12:30 PM Q1 0.6% 0.1% 0.4%
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%
2017-03-01 01:30 PM Q4 0.83%
2017-05-31 12:30 PM Q1 0.63%
2017-08-31 12:30 PM Q2 0.67%




Canada GDP Growth At 2-Year High of 0.9% in Q3


The Canadian economy expanded 0.9 percent on quarter in the three months to September of 2016, following a downwardly revised 0.3 percent contraction in the previous period. It is the highest growth rate since the second quarter of 2014, boosted by exports of energy while domestic demand slowed. Expressed at an annualized rate, the economy expanded 3.5 percent, better than market expectations of 3.4 percent.

Exports increased 2.2 percent, following a 3.9 percent drop in the previous period. Growth was driven by a 6.1 percent increase in the energy sector, following a 5.1 percent decline in the second quarter as a result of the Fort McMurray wildfires. Exports of goods grew 2.3 percent, while services advanced 1.4 percent. Imports went up 0.8 percent, following a 0.4 percent rise in the previous period. 

Growth in household final consumption expenditure was 0.6 percent, a similar pace to the previous two quarters. The growth was mainly in services (+0.9 percent). Expenditures on goods increased 0.3 percent despite a 0.6 percent decline in outlays on durables, particularly motor vehicles. Investment in residential structures (-1.4 percent) fell for the first time since the first quarter of 2014.

Government final consumption expenditure declined 0.3 percent following a 1.3 percent increase in the second quarter.

Business investment on machinery and equipment fell 3.2 percent in the third quarter, while intellectual property products declined 4.5 percent on reduced investment in mineral exploration and evaluation (-26.3 percent). Investment in non-residential structures rose 3.7 percent, largely due to the import of a module destined for the Hebron offshore oil project in Newfoundland and Labrador.

Businesses added $4.8 billion to inventories, as manufacturing, wholesale and retail inventory levels all increased. Retail inventories of motor vehicles grew by $3.0 billion in the third quarter.

Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
11/30/2016 1:48:40 PM



Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 -0.30 3.33 -2.30 percent [+]
GDP Annual Growth Rate 1.30 1.10 8.80 -4.10 percent [+]
GDP Growth Annualized 3.50 -1.30 9.30 -9.10 percent [+]
GDP 1550.54 1783.78 1837.44 40.77 USD Billion [+]
GDP Constant Prices 1798011.00 1782747.00 1798011.00 760402.00 CAD Million [+]
Gross National Product 2007028.00 1980760.00 2007028.00 343908.00 CAD Million [+]
Gross Fixed Capital Formation 384881.00 386111.00 419349.00 134930.00 CAD Million [+]
GDP per capita 50000.56 49895.98 50000.56 17663.57 USD [+]
GDP per capita PPP 42890.88 42801.18 42890.88 30115.28 USD [+]
GDP From Agriculture 28298.00 26659.00 28298.00 17867.00 CAD Million [+]
GDP From Construction 117053.00 113898.00 125158.00 61200.00 CAD Million [+]
GDP From Manufacturing 175400.00 175881.00 201185.00 149258.00 CAD Million [+]
GDP From Mining 136187.00 133822.00 142432.00 99541.00 CAD Million [+]
GDP From Public Administration 107823.00 108429.00 108984.00 72280.00 CAD Million [+]
GDP From Services 1188459.00 1187463.00 1188459.00 683158.00 CAD Million [+]
GDP From Transport 75400.00 74645.00 75400.00 45420.00 CAD Million [+]
GDP From Utilities 38688.00 40439.00 40439.00 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.90 -0.30 3.33 -2.30 1961 - 2016 percent Quarterly



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