The Canadian economy rebounded by 1.3% on quarter in 3Q 2021, following an upwardly revised 0.8% contraction in the previous period, underpinned by household spending and exports as pandemic restrictions were phased out. Final consumption expenditure advanced at a faster pace (2.9% vs 0.1% in Q2), mainly boosted by household spending (4.2% vs -0.1%) and spending of non-profit institutions serving households final expenditure (1.3% vs 0.6%), while government consumption decreased (-0.2% vs 0.7%). Net external demand also improved, as exports rose 1.9% (vs -4.5% in Q2) and imports edged down 0.6% (vs 0.5% in Q2). Still, gross fixed capital formation deteriorated further (-3.6% vs -0.5%) due to a significant decline in housing investments, which coupled with withdrawals of inventories capped some of the upward momentum. 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 January of 2022.
GDP Growth Rate in Canada is expected to be 1.90 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 1.00 percent in 2022 and 0.80 percent in 2023, according to our econometric models.