Canada GDP Growth Rate

The Gross Domestic Product (GDP) in Canada expanded 0.70 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Canada is reported by the Statistics Canada. GDP Growth Rate in Canada averaged 0.82 Percent from 1961 until 2013, 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. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.70 0.70 3.33 -1.80 0.94 | 2014/03 1961 - 2013 Percent Quarterly


Canada GDP Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-31 01:30 PM Canada
GDP Growth Rate QoQ
Q1 2013 0.6% 0.2% 1.6% 0.20%
2013-08-30 01:30 PM Canada
GDP Growth Rate QoQ
Q2 2013 0.4% 0.5% (R) 0.54%
2013-11-29 01:30 PM Canada
GDP Growth Rate QoQ
Q3 2013 0.7% 0.4% 1.0% 0.3%
2014-02-28 01:30 PM Canada
GDP Growth Rate QoQ
Q4 2013 0.7% 0.7% 0.17%
2014-05-30 01:30 PM Canada
GDP Growth Rate QoQ
Q1 2014 0.7% 0.94%
2014-08-29 01:30 PM Canada
GDP Growth Rate QoQ
Q2 2014 0.88%

GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 1712001.00 2013-11-15 1699725.00 1712001.00 758823.00 1732921.31 2014-06-30 CAD Million [+]
Gdp Growth Annualized 2.89 2013-11-15 2.66 8.54 -8.99 2.43 2014-03-31 Percent [+]
Gross Fixed Capital Formation 396446.00 2013-11-15 399916.00 401645.00 134073.00 396739.31 2014-03-31 CAD Million [+]
Gross National Product 1870288.00 2013-11-15 1859116.00 1870288.00 343088.00 1886199.17 2014-03-31 CAD Million [+]
GDP per capita 35992.10 2012-12-31 35794.30 36182.90 12931.40 36396.13 2014-06-30 USD [+]
GDP per capita PPP 35936.26 2012-12-31 35738.70 36126.74 22635.37 36407.42 2014-06-30 USD [+]
GDP Growth Rate 0.70 2013-12-31 0.70 3.33 -1.80 0.94 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.66 2013-12-31 2.16 8.80 -3.70 2.95 2014-03-31 Percent [+]
GDP 1821.40 2012-12-31 1777.80 1821.40 40.80 1959.83 2014-06-30 USD Billion [+]

Canadian Economy Resilient in Q4

In the last three months of 2013, Canada’s GDP advanced 0.7 percent on a quarter-on-quarter basis, the same rate recorded in the preceding quarter. The annualized growth rate was recorded at 2.9 percent, better than 2.7 percent in the third quarter.

Final domestic demand rose 0.3 percent in the fourth quarter, as household and government final consumption expenditure increased while business gross fixed capital formation declined. This was the second consecutive quarter that final domestic demand grew at a slower pace than real GDP.

Household final consumption expenditure advanced 0.8 percent, led by increased spending on services and non-durable goods. Outlays on semi-durable goods were also higher.

Business gross fixed capital formation declined 0.5 percent after increasing 0.3 percent in the third quarter. Business investment in residential and non-residential structures were both lower, while outlays on machinery and equipment were higher.

Business investment in inventories was $18.1 billion in the fourth quarter, up from $12.4 billion in the third quarter. Non-farm inventories accounted for most of the added stock.

Exports rose 0.4 percent after a flat third quarter. Imports increased 0.2 percent after declining the previous quarter. 

For 2013 as a whole, the GDP grew by 2.0 percent from 2012 after increasing by 1.7 a year earlier.

Statistics Canada | Joana Taborda |
2/28/2014 1:46:17 PM


Canada's GDP Growth Accelerates to 0.7% QoQ in Q3
Canadian GDP quickened in the third quarter of 2013 to its fastest pace in nearly two years. The GDP expanded 0.7 percent quarter-on-quarter, following a 0.4 percent growth in the previous three-month period, as household and government final consumption and business investment all increased. Published on 2013-11-29

Canadian GDP Growth Slows to 0.4% QoQ in Q2
In the second quarter of 2013, Canadian GDP grew 0.4 percent quarter-on-quarter, following 0.5 percent growth in the first quarter, mainly due to a drop in investment. Published on 2013-08-30

GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. 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.


Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
Bank of Canada Leaves Rates at 1%  
At its April 16th, 2014 meeting, Bank of Canada decided to leave the overnight lending at 1 percent, as the Bank continues to see a gradual strengthening in the fundamental drivers of growth and inflation.
Canadian Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Canadian jobless rate fell to 6.9 from 7.0 percent in the previous month and 7.2 percent a year earlier. Employment increased by 42,900, driven by gains among youths, compared with a loss of 7,000 jobs in February.
Canadian Trade Balance Turns to a CAD 290 Million Surplus  
Trade balance in Canada recorded a surplus of CAD 290 million in February of 2014, following a CAD 337 million deficit in January, as exports grew 3.6 percent and imports were up 2.1 percent. Motor vehicles and parts, and energy products improved exports, while imports increased for energy products.
Canada Inflation Rate Slows in February  
Canadian annual inflation rate decelerated for the first time in 4 months to 1.1 percent, after hitting a 19-month high 1.5 percent in January. The slowdown is mainly due to a 1.3 percent fall in gasoline prices, following a 4.6 percent increase in January.
Canada Trade Deficit Narrows Sharply in January  
Canadian trade deficit decreased to CAD 172 million in the first month of 2014 from CAD 922 million in December of 2013 as imports declined 1.6 percent while exports edged up 0.2 percent.
Canada Unemployment Rate Steady at 7%  
In February of 2014, Canada's jobless rate remained unchanged at 7 percent. There has been little overall employment growth in Canada since August 2013.
Canada Leaves Monetary Policy Unchanged  
At its March 5th, 2014 meeting, Canada's central bank decided to leave the overnight rate unchanged at 1 percent, as widely expected, citing balanced risks to inflation, housing market and household debt.
Canadian Economy Resilient in Q4  
In the last three months of 2013, Canada’s GDP advanced 0.7 percent on a quarter-on-quarter basis, the same rate recorded in the preceding quarter. The annualized growth rate was recorded at 2.9 percent, better than 2.7 percent in the third quarter.
Canada's Current Account Deficit Widened in Q4  
Canada's current account deficit increased by CAD 1.2 billion to CAD 16.0 billion in the fourth quarter of 2013. It is the highest deficit in the last five quarters, as exports fell due to lower crude oil prices and imports rose.


US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.

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