Canada GDP July 2018


Canada: Growth bounces back in July

September 28, 2018

Economic growth came in at 0.2% in monthly terms in July, on the heels of an essentially flat reading in June. July’s print overshot analysts’ expectations. According to Statistics Canada, a majority of sectors notched improvement, with goods-producing industries only narrowly outpacing services-producing ones. On the goods-producing side, output gains in the manufacturing and utilities sectors offset losses in the extractives sector.

On an annual basis, growth was stable from June at 2.4%. Meanwhile, annual average growth dipped to 3.0% from 3.1% a month earlier.

FocusEconomics Consensus Forecast panelists expect growth of 2.1% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees growth at 1.9%, also unchanged from last month’s forecast.


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Canada GDP Chart

Canada Monthly GDP July 2018

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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