The Canadian economy grew 4.5% over a month earlier in May 2020, recovering from an upwardly revised record 11.7% contraction in April and beating market expectations of a 3.5% expansion. It was the strongest growth in economic activity since series began, amid the easing of coronavirus lockdown restrictions. Both goods-producing (+8%) and services-producing industries (+3.4%) were up, as 17 of 20 industrial sectors posted increases. Construction increased 17.6% as all types of construction activities expanded and retail trade grew at the sharpest pace on record (+16.4%) as 11 of the 12 subsectors were up, namely motor vehicle & parts dealers (+68.6%), clothing (+94.8%) and sporting goods, book and music stores (+98.2%) bounced back. In addition, the manufacturing sector grew 7.4% and wholesale activity rebounded (+6%), following three months of contraction. The national statistical office provided a preliminary estimate of a 5 percent expansion in real GDP in June.
Leading Economic Index in Canada averaged 0.15 percent from 1997 until 2020, reaching an all time high of 4.50 percent in May of 2020 and a record low of -11.70 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 August of 2020. source: Statistics Canada
Leading Economic Index in Canada is expected to be -0.50 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 0.50 in 12 months time. In the long-term, the Canada GDP MoM is projected to trend around 0.40 percent in 2021, according to our econometric models.