Canada GDP


Canada: GDP contracts in January

March 31, 2015

In January, GDP fell 0.1% over the previous month in seasonally-adjusted terms, which contrasted the 0.3% expansion recorded in December. According to Statistics Canada, the drop was largely driven by a decrease in the output of service industries.

On an annual basis, GDP rose 2.4% in January, which was below December’s 2.8% increase. The overall trend was stable as the annual average variation in GDP remained unchanged at December’s 2.4%.

According to its January Monetary Policy Report, the Central Bank projects that the economy will grow 2.1% in 2015 and 2.4% in 2016. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.4% in 2015, which is down 0.1 percentage points from last month’s estimate. For 2016, the panel expects the economy to expand 2.3%.

Author:, Senior Economist

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Canada GDP Chart

Canada Monthly GDP January 2015

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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