The Canadian economy advance 0.3 percent on quarter in the three months to September 2019, slowing from a 0.9 percent expansion in the previous period. Growth was mainly driven by business investment and household spending. Expressed at an annualized rate, real GDP advanced 1.3 percent in the third quarter, easing from a 3.7 percent growth in the prior period but beating market consensus of 1.2 percent. GDP Growth Rate in Canada averaged 0.78 percent from 1961 until 2019, reaching an all time high of 3.10 percent in the fourth quarter of 1963 and a record low of -2.30 percent in the first quarter of 2009. source: Statistics Canada

GDP Growth Rate in Canada is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Canada to stand at 0.40 in 12 months time. In the long-term, the Canada GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

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Canada GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.90 3.10 -2.30 1961 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-01 01:30 PM Q4 0.1% 0.5% 0.4%
2019-05-31 12:30 PM Q1 0.1% 0.1% 0.5%
2019-08-30 12:30 PM Q2 0.9% 0.1% 0.4%
2019-11-29 01:30 PM Q3 0.3% 0.9% 0.2%
2020-02-28 01:30 PM Q4 0.3% 0.5%

News Stream
Canadian Economy Grows the Most in 2 Years
The Canadian economy advanced 0.9 percent on quarter in the three months to June 2019, easing from a 0.1 percent expansion in the previous period. It was the strongest growth rate since the second quarter of 2017, as exports rose while domestic demand declined. Expressed at an annualized rate, real GDP expanded 3.7 percent in the second quarter, faster than a 0.5 percent growth in the first three months of the year and beating market forecasts of 3 percent.

Canada GDP Growth Remains Steady at 0.1% in Q1
The Canadian economy advanced 0.1 quarter-on-quarter in the first quarter of 2019, the same growth rate as the fourth quarter of 2018 which is the lowest since Q2 2016. The expansion was driven by household spending and fixed investment but moderated by declines in exports and housing investment. Expressed at an annualized rate, real GDP increased 0.4 percent in the first quarter, above a downwardly revised 0.3 percent growth in the previous period but below market expectations of 0.7 percent.

Canada Q4 GDP Growth at 2-1/2-Year Low of 0.1%
The Canadian economy advanced 0.1 percent quarter-on-quarter in the fourth quarter of 2018, slowing from a 0.5 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2016, as real gross national income fell, largely owing to lower export prices of crude oil and crude bitumen and final domestic demand shrank. Expressed as an annualized rate, the GDP expanded 0.4 percent, following a 2 percent gain in the third quarter and well below market expectations of 1.2 percent. Considering full 2018, the economy grew 1.8 percent easing from a 3.0 percent in 2017.

Canada GDP Growth Rate
Canada's economy is diversified and highly developed. Foreign trade is responsible for about 45 percent of the nation's GDP and the United States is by far the largest trade partner. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.90 3.10 -2.30 percent [+]
GDP Annual Growth Rate 1.60 1.40 9.30 -4.10 percent [+]
GDP Growth Annualized 1.30 3.50 12.60 -9.00 percent [+]
GDP 1709.30 1646.90 1842.02 40.77 USD Billion [+]
GDP Constant Prices 2099200.00 2092327.00 2099200.00 343577.00 CAD Million [+]
Gross National Product 2285996.00 2280528.00 2285996.00 39924.00 CAD Million [+]
Gross Fixed Capital Formation 443216.00 432880.00 473052.00 57964.00 CAD Million [+]
GDP per capita 51357.80 51126.20 51357.80 17665.10 USD [+]
GDP per capita PPP 44051.05 43852.42 44051.05 30264.47 USD [+]
GDP From Agriculture 40418.00 41003.00 41208.00 23668.00 CAD Million [+]
GDP From Construction 142526.00 143310.00 147533.00 71294.00 CAD Million [+]
GDP From Manufacturing 197546.00 200823.00 218222.00 162048.00 CAD Million [+]
GDP From Mining 147158.00 147162.00 159629.00 99558.00 CAD Million [+]
GDP From Public Administration 133636.00 133332.00 133636.00 82547.00 CAD Million [+]
GDP From Services 1401573.00 1401225.00 1401573.00 753361.00 CAD Million [+]
GDP From Transport 88786.00 87603.00 89469.00 51402.00 CAD Million [+]
GDP From Utilities 43339.00 43119.00 44134.00 31420.00 CAD Million [+]