The Canadian economy likely expanded by 0.5% month-over-month in March of 2022, with preliminary data also suggesting annualized growth for the first quarter at about 5.6% on an annualized basis, which would beat most forecasts. It marks the tenth consecutive month of growth. In February, GDP rose by 1.1%, the fastest advance since March of 2021, above market forecasts of 0.8%, amid the easing of Omicron-related restrictions. Both services-producing (+0.9%) and goods-producing (+1.5%) industries were up, as 16 of 20 industrial sectors expanded in February. The main drivers of growth were the accommodation and food services sector (15.1%); arts, entertainment and recreation (8.4%); mining, quarrying, and oil and gas extraction (3.4%); transportation and warehousing (3.1%) and construction (2.7%). source: Statistics Canada

Monthly GDP MoM in Canada averaged 0.20 percent from 1997 until 2022, reaching an all time high of 5.80 percent in June of 2020 and a record low of -10.90 percent in April of 2020. This page includes a chart with historical data for Canada Monthly GDP MoM. Canada Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

Monthly GDP MoM 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. In the long-term, the Canada Monthly GDP MoM is projected to trend around 0.30 percent in 2023, according to our econometric models.

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Canada Monthly GDP MoM


Canada Monthly GDP MoM
In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.
Actual Previous Highest Lowest Dates Unit Frequency
0.50 1.10 5.80 -10.90 1997 - 2022 percent Monthly
SA

News Stream
Canada GDP Set to Expand Further
The Canadian economy likely expanded by 0.5% month-over-month in March of 2022, with preliminary data also suggesting annualized growth for the first quarter at about 5.6% on an annualized basis, which would beat most forecasts. It marks the tenth consecutive month of growth. In February, GDP rose by 1.1%, the fastest advance since March of 2021, above market forecasts of 0.8%, amid the easing of Omicron-related restrictions. Both services-producing (+0.9%) and goods-producing (+1.5%) industries were up, as 16 of 20 industrial sectors expanded in February. The main drivers of growth were the accommodation and food services sector (15.1%); arts, entertainment and recreation (8.4%); mining, quarrying, and oil and gas extraction (3.4%); transportation and warehousing (3.1%) and construction (2.7%).
2022-04-29
Canadian Economy Expands as Expected
The Canadian economy expanded 0.2% month-over-month in January of 2022, the eighth consecutive month of growth, compared to an upwardly revised 0.1% increase in December and in line with market expectations. The goods producing industries expanded by 0.8%, led by construction (2.8%) and utilities production (4%) as below seasonal temperatures in western Canada increased demand for electricity and natural gas for heating purposes. Meanwhile, economic effects of the spread of the Omicron variant led services producing industries to remain stagnant in January, as strong growth in wholesale (3.1%) and retail (2.5%) trade offset the sharp contraction in transportation and housing (-3%). According to preliminary data, the Canadian GDP for February likely grew by 0.8%.
2022-03-31
Canada Economy Stalls in December
The Canadian GDP stagnated in December of 2021 following six consecutive months of growth, defying market expectations of a 0.1% rise. The services-producing industries went up only 0.1%, as the rapid spread of the Omicron variant was predominantly felt in client-facing industries, namely retail trade (-2.7%); accommodation & food services (-1.5%) and arts, entertainment and recreation (-3.7%). At the same time, the goods-producing industries shrank 0.1%, led by mining, quarrying, and oil and gas extraction (-2.2%) and construction (-0.6%). Meanwhile, according to preliminary data, the Canadian GDP for January likely grew 0.2%. Considering the full 2021, the economy expanded 4.6 percent, after a 5.2 percent contraction in 2020 with activity rising in 17 of 20 industrial sectors.
2022-03-01