Canada GDP August 2018


Canada: Economy treads water in August

October 31, 2018

Economic growth came in at 0.1% in monthly terms in August, on the heels of a stronger 0.2% month-on-month expansion in July. August’s print overshot analysts’ expectations of an essentially flat reading. According to Statistics Canada, only a fraction of industrial sectors notched improvement; although services-producing industries outpaced goods-producing ones, most gains were concentrated in the extractives sector. For their part, buoyant markets lifted the finance and insurance sector.

On an annual basis, growth ticked up to 2.5% from 2.3% in July. Meanwhile, annual average growth dipped to 2.9% from 3.0% a month earlier.

FocusEconomics Consensus Forecast panelists expect growth of 2.0% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees growth at 1.6%.


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Canada GDP Chart

Canada Monthly GDP August 2018

Note: Month-on-month changes of seasonally-adjusted GDP and year-on-year variation in %.
Source: Statistics Canada (SC) and FocusEconomics calculations.

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