Canada GDP


Canada: GDP growth remains unchanged in April

June 30, 2014

GDP increased a seasonally-adjusted 0.1% over the previous month in April, matching March’s result. The reading came in slightly below market expectations of a 0.2% expansion. According to Statistics Canada, wholesale and retail sales drove the monthly increase and more than offset the contractions in construction and in mining, oil and gas extraction.

On an annual basis, GDP rose 2.1% in April, which was the same pace of expansion that was recorded in the previous month. The overall trend was also unchanged in April with annual average variation in GDP remaining stable at March’s 2.2%.

According to its April Monetary Policy Report, the Central Bank projects that the economy will grow 2.3% in 2014 and 2.5% in 2015. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.3% in 2014, which is unchanged from last month’s estimate. For 2015, the panel expects the economy to expand 2.6%.

Author: Teresa Kersting, Economist

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Canada GDP Chart

Canada Monthly GDP April 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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