Canada GDP


GDP growth rate unchanged in October

GDP increased a seasonally-adjusted 0.3% over the previous month in October 2013, matching September's result. The increase was just above market expectations of a 0.2% rise. According to Statistics Canada, manufacturing and wholesale trade were the sectors with the greatest contribution to the monthly increase.

On an annual basis, GDP rose 2.7% in October, which was above the 2.4% expansion observed in September. The overall trend increased, with annual average variation in GDP inching up from 1.5% in September to 1.7% in October.

According to its October Monetary Policy Report, the Central Bank projects that the economy will grow 2.3% in 2014 and 2.6% in 2015. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.3% in 2014, which is unchanged from last month's estimate. For 2015, the panel expects the economy to expand 2.5%.

Author:, Economist

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Canada GDP Chart

Canada Monthly GDP October 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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