The Canadian economy expanded an annualized 3.1% on quarter in the first three months of 2023, rebounding from a 0.1% fall in the previous period, and beating forecasts of a 2.5% increase. Favourable international trade and growth in household spending were moderated by slower inventory accumulations as well as declines in housing investment and business investment in machinery and equipment. source: Statistics Canada

GDP Growth Annualized in Canada averaged 3.04 percent from 1961 until 2023, reaching an all time high of 36.10 percent in the third quarter of 2020 and a record low of -43.70 percent in the second quarter of 2020. This page provides - Canada Gdp Growth Annualized - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

GDP Growth Annualized in Canada is expected to be 0.30 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 Annualized is projected to trend around 1.00 percent in 2024 and 2.00 percent in 2025, according to our econometric models.

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Canada GDP Growth Annualized

Calendar GMT Actual Previous Consensus TEForecast
2023-02-28 01:30 PM Q4 0% 2.3% 1.5% 0.9%
2023-05-31 12:30 PM Q1 3.1% -0.1% 2.5% 2.1%
2023-09-01 12:30 PM Q2 3.1% 0.3%

Related Last Previous Unit Reference
GDP Growth Rate 0.80 0.00 percent Mar 2023
GDP Growth Annualized 3.10 -0.10 percent Mar 2023
GDP Annual Growth Rate 2.07 3.77 percent Dec 2022
GDP Constant Prices 2185910.00 2185692.00 CAD Million Dec 2022
Gross National Product 2747872.00 2777476.00 CAD Million Dec 2022
Gross Fixed Capital Formation 453605.00 456630.00 CAD Million Dec 2022
GDP from Utilities 42950.00 42710.00 CAD Million Feb 2023
GDP from Transport 85633.00 85840.00 CAD Million Feb 2023
GDP from Services 1490584.00 1489726.00 CAD Million Feb 2023
GDP from Public Administration 145998.00 145652.00 CAD Million Feb 2023
GDP from Mining 155323.00 155121.00 CAD Million Feb 2023
GDP from Manufacturing 195053.00 195252.00 CAD Million Feb 2023
GDP from Construction 153199.00 152687.00 CAD Million Feb 2023
GDP from Agriculture 43106.00 43496.00 CAD Million Feb 2023

Canada GDP Growth Annualized
GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year. 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.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 -0.10 36.10 -43.70 1961 - 2023 percent Quarterly