The Canadian economy grew by just 0.1% over a month earlier in December of 2020, following an upwardly revised 0.8% expansion in November and missing market expectations of a 0.3% rise. It was the eighth monthly expansion following sharp contractions in March and April, but still economic activity remained around 4% below February’s pre-pandemic level. Goods-producing industries were up 0.6% while services-producing industries edged down 0.1%, as 12 of 20 industrial sectors increased in December. In 2020, activity was down in 17 of 20 industrial sectors as the COVID-19 pandemic and measures put in place to reduce the spread of the virus affected economic activities to various degrees. Goods-producing industries shrank 6.2%, the most since 2009; while services-producing industries contracted 4.9%, the largest decline since series began in 1961. Meantime, preliminary estimates for January point to a 0.5% expansion, driven by wholesale trade, manufacturing and construction. source: Statistics Canada
Leading Economic Index in Canada averaged 0.19 percent from 1997 until 2020, reaching an all time high of 6.20 percent in June of 2020 and a record low of -11.40 percent in April of 2020. This page provides the latest reported value for - Canada GDP MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Leading Economic Index in Canada is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Canada to stand at 0.40 in 12 months time. In the long-term, the Canada GDP MoM is projected to trend around 0.30 percent in 2022, according to our econometric models.