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.

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Canada Monthly GDP MoM



Calendar GMT Actual Previous Consensus TEForecast
2022-12-23 01:30 PM GDP MoM Prel Nov 0% 0.1%
2022-12-23 01:30 PM GDP MoM Oct 0.1% 0.2% 0.1% 0%
2023-01-31 01:30 PM GDP MoM Nov 0.1% 0.1% 0%

Canada Monthly GDP MoM
In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.10 5.80 -10.80 1997 - 2022 percent Monthly
SA

News Stream
Canadian Economy Seen Stalling in November
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%).
2022-12-23
Canadian GDP Likely Stagnated in October
The Canadian economy likely stagnated from the previous month in October of 2022 as expansion in the transportation and warehousing, construction, and wholesale trade sectors offset contractions in manufacturing, mining and quarrying, and oil and gas extraction sectors, according to preliminary estimates. In September, the economy expanded by 0.1%, in line with preliminary estimates, and slowing from the upwardly revised 0.3% advance in August. Goods-producing industries (0.3% vs 0.1% in August) led the growth in the sector, supported by a rebound for mining, quarrying, and oil and gas extraction (1.2% vs -0.8%) amid higher crude bitumen production in Alberta, while growth in agricultural production (0.8% vs 3.7%) continued to expand. Services-producing industries stagnated in September (vs 0.3%), as growth in professional, scientific, and technical services (0.5% vs 0.6%) offset a decline in accommodation and food services (-0.8% vs 0.8%).
2022-11-29
Canadian GDP Seen Expanding 0.4% in Q3
The Canadian economy likely expanded by 0.4% quarter-on-quarter in Q3 of 2022, pointing to a 0.1% growth in September from August, according to preliminary estimates. In September, expansion in oil and gas extraction, manufacturing, and the public sector more than offset declines in construction activity. Regarding August, the GDP also expanded by 0.1%, above preliminary estimates of a stall. Growth was seen in 14 of the 20 industrial sectors, as higher output in services producing industries (0.3%) outweighed the decline in goods-producing industries (-0.3%). Increases were prevalent in retail activity (1.2%), largely due to higher output from gasoline stations (6.9%) and food and beverages stores (1.2%). On the other hand, construction fell (-0.7%) for the fifth consecutive month in August, baring pressure from contraction in engineering and construction activities (-0.9%).
2022-10-28