The economy in Canada shrank 13 percent over a year earlier in the second quarter of 2020, following a 0.9 percent decline in the previous period. It was the second consecutive contraction and the sharpest on record, officially entering recession as the coronavirus pandemic hit the economy.
GDP Annual Growth Rate in Canada averaged 3.04 percent from 1962 until 2020, reaching an all time high of 9.30 percent in the first quarter of 1962 and a record low of -13 percent in the second quarter of 2020. This page provides - Canada GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Annual Growth Rate - values, historical data and charts - was last updated on September of 2020. source: Statistics Canada
GDP Annual Growth Rate in Canada is expected to be -9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Canada to stand at 12.00 in 12 months time. In the long-term, the Canada GDP Annual Growth Rate is projected to trend around 2.50 percent in 2021 and 1.90 percent in 2022, according to our econometric models.