Canada GDP

Canada

Canada: GDP growth picks up in May

July 31, 2014

GDP increased a seasonally-adjusted 0.4% over the previous month in May, which came in above April’s 0.1% expansion and met market expectations. According to Statistics Canada, most subcategories that compose the index grew in May, with manufacturing and wholesale trade recording the largest rates of expansion.

On an annual basis, GDP rose 2.3% in May, exceeding April’s 2.2% rise. The overall trend improved slightly as annual average growth ticked up from April’s 2.2% to 2.3% in May.

According to its July Monetary Policy Report, the Central Bank projects that the economy will grow 2.2% in 2014 and 2.5% in 2015. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.2% in 2014, which is down 0.1 percentage points from last month’s estimate. For 2015, the panel expects the economy to expand 2.6%.


Author: Teresa Kersting, Economist

Sample Report

Looking for forecasts related to GDP in Canada? Download a sample report now.

Download

Canada GDP Chart


Canada Monthly GDP May 2014

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


Canada Economic News

More news

Search form