Canada GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Canada expanded 2.66 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Canada is reported by the Statistics Canada. GDP Annual Growth Rate in Canada averaged 3.30 Percent from 1962 until 2013, reaching an all time high of 8.80 Percent in the first quarter of 1962 and a record low of -3.70 Percent in the fourth quarter of 1982. Like in many developed nations, in Canada services account for more than 70 percent of GDP. Within services the most important are: Finance, insurance, real estate, rental and leasing and management of companies and enterprises (21 percent of total GDP); Retail and wholesale trade (12 percent), Health (8 percent) and Public administration (6 percent). Manufacturing accounts for 13 percent of the output and Construction for 6 percent. Mining and oil and gas extraction constitute only 4 percent of GDP, yet Canada is a net exporter of energy. Also, although Agriculture, forestry, fishing and hunting account for 2 percent of output, the country is one of the world's largest suppliers of agricultural products. This page provides - Canada GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.66 2.16 8.80 -3.70 2.95 | 2014/03 1962 - 2013 Percent Quarterly


Canada GDP Annual Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-03-01 01:30 PM Canada
GDP Growth Rate YoY
Q4 2012 1.1% 1.5%

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 [+]

GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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.


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.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.

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