Canada GDP


GDP growth slows in April

In April, GDP increased a seasonally adjusted 0.1% over the previous month. The figure was below the 0.2% rise tallied in March but came in line with market expectations. According to Statistics Canada, a contraction in mining, quarrying, and oil and gas extraction was more than offset by an expansion in the other services category.

On an annual basis, GDP rose 1.4% in April, which was below the 1.7% expansion observed in March. The trend deteriorated, with annual average variation in GDP inching down from 1.7% in March to 1.6% in April.

According to its April Monetary Policy Report, the Central Bank projects the economy to grow 1.5% this year and 2.8% in 2014. FocusEconomics Consensus Forecast panellists are slightly more optimistic and expect the economy to grow 1.8% in 2013, which is unchanged from last month's estimate. For 2014, the panel expects the economy to expand 2.5%.


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Canada GDP Chart

Canada Monthly GDP April 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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