Canada GDP Growth Rate 1961-2018 | Data | Chart | Calendar | Forecast

Canada gross domestic product grew 0.3 percent in the first quarter, following an increase of 0.4 percent in each of the previous two quarters. It was the slowest expansion since a 0.3 percent contraction was seen in the second quarter of 2016. Final domestic demand rose by 0.5 percent. Growth was moderated by a deceleration in household spending, lower exports of non-energy products and a decline in housing investment (-1.9 percent). Expressed at an annualized rate, real GDP was up 1.3 percent in the first quarter, but below market expectations of a 1.8 percent growth. GDP Growth Rate in Canada averaged 0.79 percent from 1961 until 2018, reaching an all time high of 3.10 percent in the fourth quarter of 1963 and a record low of -2.30 percent in the first quarter of 2009.

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Canada's Economy Expands the Least Since 2016

Canada gross domestic product grew 0.3 percent in the first quarter, following an increase of 0.4 percent in each of the previous two quarters. It was the slowest expansion since a 0.3 percent contraction was seen in the second quarter of 2016. Final domestic demand rose by 0.5 percent. Growth was moderated by a deceleration in household spending, lower exports of non-energy products and a decline in housing investment (-1.9 percent). Expressed at an annualized rate, real GDP was up 1.3 percent in the first quarter, but below market expectations of a 1.8 percent growth.

Household spending grew 0.3 percent in the first quarter of 2018, the slowest pace since the first quarter of 2015. Growth was driven by increased outlays on services (+0.5 percent). Household spending on goods was unchanged, following 11 consecutive quarterly increases.

Investment in machinery and equipment rose 4.2 percent, with medium and heavy trucks, buses and other motor vehicles (+12.5 percent) and industrial machinery and equipment (+3.9 percent) contributing to the growth. Intellectual property products rose 3.3 percent, as mineral exploration and evaluation (+8.0 percent) rebounded and software (+3.2 percent) accelerated. Investment in non-residential structures increased 1.5 percent.

Investment in housing fell 1.9 percent, the largest decline since the first quarter of 2009, due to a drop in ownership transfer costs (-13.5%). Lower resale activity coincided with new mortgage stress measures introduced nationwide in January. Business outlays on new construction slowed to 1.2 percent growth, while renovations increased 1.4 percent.

Businesses added CAD 15.2 billion to their inventories in the first quarter, following an accumulation of CAD 15.9 billion in the previous quarter. Wholesalers (+CAD 5.4 billion), manufacturers (+CAD 4.0 billion) and retailers (+CAD 2.6 billion) all added to their stocks. Farm inventories grew by CAD 567 million, compared with an accumulation of CAD 2.7 billion in the fourth quarter of 2017. The economy-wide stock-to-sales ratio increased from 0.760 to 0.765 in the first quarter.

Export volumes rose 0.4 percent after increasing 1.0 percent in the fourth quarter of 2017. Exports of crude oil and crude bitumen (+9.9 percent) largely contributed to the gains. Exports of services grew 1.7 percent in the first quarter, following a 1.3 percent increase in the previous quarter. Imports rose by 1.2 percent in the first quarter, with similar increases in goods and services.

Growth in imports of goods was led by passenger cars and light trucks (+5.9 percent), tires, motor vehicle engines and parts (+6.0 percent) and basic chemicals and industrial chemical products (+8.6 percent).Imports of services rose 1.1%, as those of commercial (+1.3 percent), transportation (+1.4 percent) and travel (+0.6 percent) services all increased.

Business investment in machinery and equipment (+4.2 percent) and intellectual property products (+3.3 percent) increased at a faster pace than in the fourth quarter of 2017.

Statistics Canada | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/31/2018 1:56:46 PM

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Calendar	GMT		Actual	Previous	TEForecast
2017-12-01	01:30 PM	GDP Growth Rate QoQ	0.4%	1.0%	0.4%
2018-03-02	01:30 PM	GDP Growth Rate QoQ	0.4%	0.4%	0.50%
2018-05-31	12:30 PM	GDP Growth Rate QoQ	0.3%	0.4%	0.3%
2018-08-30	12:30 PM	GDP Growth Rate QoQ		0.3%	0.6%
2018-11-30	01:30 PM	GDP Growth Rate QoQ			0.3%

Canada GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.30	0.40	3.10	-2.30	percent	[+]
GDP Annual Growth Rate	2.30	3.00	9.30	-4.10	percent	[+]
GDP Growth Annualized	1.30	1.70	12.60	-9.10	percent	[+]
GDP	1653.04	1535.77	1842.63	40.77	USD Billion	[+]
GDP Constant Prices	1877388.00	1871142.00	1877388.00	316042.00	CAD Million	[+]
Gross National Product	2168064.00	2153084.00	2168064.00	39836.00	CAD Million	[+]
Gross Fixed Capital Formation	412546.00	408291.00	429248.00	52611.00	CAD Million	[+]
GDP per capita	51315.89	50407.30	51315.89	17664.20	USD	[+]
GDP per capita PPP	44017.59	43238.26	44017.59	30115.28	USD	[+]
GDP From Agriculture	27706.00	27813.00	29055.00	17867.00	CAD Million	[+]
GDP From Construction	126443.00	127099.00	130175.00	61200.00	CAD Million	[+]
GDP From Manufacturing	184518.00	183037.00	201185.00	149258.00	CAD Million	[+]
GDP From Mining	155077.00	155545.00	155545.00	99541.00	CAD Million	[+]
GDP From Public Administration	109792.00	109709.00	109792.00	72280.00	CAD Million	[+]
GDP From Services	1239165.00	1238793.00	1239165.00	683158.00	CAD Million	[+]
GDP From Transport	80294.00	80417.00	80417.00	45420.00	CAD Million	[+]
GDP From Utilities	40555.00	39925.00	40563.00	30324.00	CAD Million	[+]

Canada GDP Growth Rate

Canada's economy is diversified and highly developed. The foundation of Canadian economy is foreign trade and the United States is by far the nation's largest trade partner. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada is one of the few developed nations that is a net exporter of energy. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.30	0.40	3.10	-2.30	1961 - 2018	percent	Quarterly

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GDP growth rate by Country

Country	Last		Previous	Highest	Lowest
Turkey	2.00	Mar/18	1.7	5.6	-5.2	%	Quarterly
United States	2.00	Mar/18	2.9	16.9	-10	%	Quarterly
India	1.90	Mar/18	1.8	5.4	-1.7	%	Quarterly
China	1.80	Jun/18	1.4	2.4	1.3	%	Quarterly
Mexico	1.10	Mar/18	0.9	3.2	-5.7	%	Quarterly
Australia	1.00	Mar/18	0.5	4.4	-2	%	Quarterly
South Korea	1.00	Mar/18	-0.2	7.8	-7	%	Quarterly
Russia	0.85	Mar/18	-0.33	4.1	-5.4	%	Quarterly
Spain	0.70	Mar/18	0.7	1.6	-1.6	%	Quarterly
Netherlands	0.60	Mar/18	0.9	1.7	-3.2	%	Quarterly
Switzerland	0.60	Mar/18	0.6	2.3	-1.6	%	Quarterly
Brazil	0.40	Mar/18	0.2	3.6	-4.1	%	Quarterly
Euro Area	0.40	Mar/18	0.7	1.3	-2.9	%	Quarterly
Canada	0.30	Mar/18	0.4	3.1	-2.3	%	Quarterly
Germany	0.30	Mar/18	0.6	4	-4.5	%	Quarterly
Italy	0.30	Mar/18	0.4	6	-2.8	%	Quarterly
France	0.20	Mar/18	0.7	7.7	-5	%	Quarterly
United Kingdom	0.20	Mar/18	0.4	5	-2.7	%	Quarterly
Japan	-0.20	Mar/18	0.3	3.2	-4.9	%	Quarterly
Indonesia	-0.42	Mar/18	-1.7	4.01	-3.57	%	Quarterly