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.