Canada GDP


Canada: GDP growth rebounds in December

March 4, 2015

In December, GDP expanded 0.3% over the previous month in seasonally-adjusted terms, which contrasted the 0.2% contraction recorded in November and marked the highest reading in three months. According to Statistics Canada, the increase was largely driven by an increase in manufacturing.

On an annual basis, GDP rose 2.8% in December, which was above November’s 2.0% increase. The figure marked the fastest expansion in six months. The overall trend improved with the annual average variation in GDP inching up from 2.3% in November to 2.4% in December.

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: Angela Bouzanis, Senior Economist

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Canada GDP Chart

Canada Monthly GDP December 2014

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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