The Canadian economy likely stagnated from the previous month in November of 2022, as increases in accommodation and food services and wholesale trade were offset by declines in construction as well as mining, quarrying and oil and gas extraction, according to a preliminary estimate. In October, the economy expanded by 0.1%, instead of the stagnation indicated in the preliminary estimate, but slowing from the upwardly revised 0.2% advance in September. Services-producing industries (0.3%) led the growth, supported by the public sector (+0.4%), wholesale (+1.3%) and client-facing industries, such as air transportation (+5.5%), arts and entertainment (+2.2%) and accommodation and food services (+1%). Meanwhile, goods-producing industries contracted (-0.7%), after expanding in the previous four months, owing to a decrease in mining, quarrying, and oil and gas extraction (-1.6%) and manufacturing (-0.7%). source: Statistics Canada
Monthly GDP MoM in Canada averaged 0.20 percent from 1997 until 2022, reaching an all time high of 5.80 percent in June of 2020 and a record low of -10.80 percent in April of 2020. This page includes a chart with historical data for Canada Monthly GDP MoM. Canada Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Monthly GDP MoM in Canada is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Monthly GDP MoM is projected to trend around 0.30 percent in 2024, according to our econometric models.