The Canadian economy grew by 1.6 percent in the fourth quarter of 2021, the most in 4 quarters and following a 1.3 percent expansion in the third quarter. Investment in inventories rebounded (CAD 22 billion in Q4 vs CAD -19.6 billion in Q3), largely due to the accumulation of business inventories in manufacturers and wholesalers. Also, business gross fixed capital formation grew by 2 percent (vs -4.4 percent), lifted by residential structures (2.4 percent vs -8.9 percent). On the other hand, net foreign demand contributed negatively to GDP, due to a rebound in imports (3.4 percent vs -0.4 percent) while exports grew to a lesser extent (3.2 percent vs 1.7 percent). Meanwhile, on an annualized basis the GDP grew 6.7%, beating analyst expectations of 6.5 percent and quickening from an upwardly revised 5.50 percent expansion in the third quarter of 2021, Considering the full 2021, the economy expanded 4.6 percent, after a 5.2 percent contraction in 2020. 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 May of 2022.
GDP Growth Rate 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 GDP Growth Rate is projected to trend around 0.80 percent in 2023, according to our econometric models.