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. GDP Growth Rate in Canada averaged 0.78 percent from 1961 until 2018, 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.
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 0.50 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.