The Canadian economy unexpectedly shrank 0.3% on quarter in Q2 2021, ending three straight quarters of expansion mostly due to a decline in home resale activities and exports. So-called home ownership transfer costs shrank 17.7%, including all costs associated with the transfer of a residential asset from one owner to another. Meanwhile, international supply chain disruptions have constrained imports of parts mostly for the auto sector and led to a 4% decrease in exports. On a positive note, business inventories, government expenditure, business investment in machinery and equipment, and investment in new home construction and renovation were all higher. On an annualized basis, the Canadian economy contracted 1.1%, compared to forecasts of a 2.5% expansion. source: Statistics Canada
GDP Growth Rate in Canada averaged 0.76 percent from 1961 until 2021, reaching an all time high of 9.10 percent in the third quarter of 2020 and a record low of -11.30 percent in the second quarter of 2020. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
GDP Growth Rate in Canada is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada GDP Growth Rate is projected to trend around 1.70 percent in 2022, according to our econometric models.