Canada GDP December 2015

Canada

Canada: GDP growth surprises on the upside in December

March 1, 2016

In December, monthly GDP grew 0.2% over the previous month in seasonally-adjusted terms. The tally was slightly lower than the 0.3% growth recorded in November; however, it overshot market expectations of a 0.1% increase. The small upside surprise is regarded as good news and finishes the year on a stronger than expected footing. However, growth was not homogenous across sectors, as manufacturing and wholesale trade drove the increase while substantial declines in retail trade, mining quarrying and oil and gas extractions were observed in December

On an annual basis, GDP grew 0.5% in December, which was in line with November’s result. The overall trend slid slightly as the annual average growth in GDP fell from 1.1% in November to 0.9% in December.

According to its January Monetary Policy Report, the Central Bank projects that the economy will grow 1.4% in 2016 and 2.4% in 2017. FocusEconomics Consensus Forecast panelists expect the economy to grow 1.7% in 2016, which is down 0.2 percentage points from last month’s estimate. For 2017, the panel expects the economy to expand 2.2%.


Author:, Economist

Sample Report

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

Download

Canada GDP Chart


Canada Monthly GDP December 2015

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