Canada GDP


Canada: GDP rebounds in September

November 28, 2014

In September, GDP expanded 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% contraction recorded in August. According to Statistics Canada, the result was driven by an increase in mining and oil and gas extraction, as well as in manufacturing.

On an annual basis, GDP rose 2.3% in September, which was above August’s 2.2% increase. The overall trend fell slightly with the annual average variation in GDP increasing 2.3%, which was below the previous month’s 2.4% rise.

According to its October Monetary Policy Report, the Central Bank projects that the economy will grow 2.3% in 2014 and 2.4% 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%, which is also unchanged from the previous month’s Consensus.

Author: Angela Bouzanis, Senior Economist

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Canada GDP Chart

Canada Monthly GDP September 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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