Canada GDP


GDP growth rate unchanged in September

GDP increased a seasonally-adjusted 0.3% in September over the previous month, matching August's result. The increase was just above market expectations of a 0.2% rise. According to Statistics Canada, manufacturing and retail were the sectors with the greatest contribution to the monthly increase.

On an annual basis, GDP rose 2.3% in September, which was above the 2.0% expansion observed in August. The overall trend increased, with annual average variation in GDP inching up from 1.4% in August to 1.5% in September.

According to its October Monetary Policy Report, the Central Bank projects the economy to grow 1.6% this year and 2.3% in 2014. FocusEconomics Consensus Forecast panelists expect the economy to grow 1.7% in 2013, which is unchanged from last month's estimate. For 2014, the panel expects the economy to expand 2.3%, which is down 0.1 percentage points from last month's forecast.

Author:, Economist

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Canada GDP Chart

Canada Monthly GDP September 2013

Note: Quarter-on-quarter changes of seasonally adjusted annualized GDP and year-on-year variation in %.
Source: Statistics Canada (SC) and FocusEconomics Consensus Forecast.

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