Domestic Demand in Canada
Canada - Domestic Demand
Economic activity growth remains broadly unchanged in August; flash estimate points to further small expansion in September
GDP expanded 0.1% in month-on-month seasonally-adjusted terms in August, matching July's 0.1% increase and above market expectations. July’s figure had also beaten market expectations. In August, growth in the services sector more than offset contractions in construction, manufacturing and mining.
On an annual basis, monthly GDP rose at a softer pace of 4.0% in August (July: +4.4% yoy).
The economy expanded a preliminary 0.1% in September, which if confirmed would bring annualized quarter-on-quarter Q3 growth to 1.6%.
On the reading and outlook, Desjardins’ Randall Bartlett said:
“While the Canadian economy isn’t hitting it out of the park, upside surprises to Statistics Canada’s flash estimates are a welcome development. […] we expect activity in goods-producing sectors to weigh on output in Q4 as the US and Canadian economies continue to see growth momentum fade.”
FocusEconomics Consensus Forecast panelists see GDP increasing 1.0% in 2023, which is down 0.4 percentage points from the previous month’s forecast, before growth of 1.8% in 2024.
Canada - Domestic Demand Data
|Domestic Demand (annual variation in %)||0.3||0.5||3.3||2.1||1.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.70||1.00 %||Dec 31|
|Exchange Rate||1.30||0.15 %||Jan 01|
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November 18, 2022
According to the Teranet-National Bank Composite House Price Index, house prices decreased 0.8% month on month in October, following September’s 3.1% fall.
November 16, 2022
Inflation came in at 6.9% in October, matching September’s figure.
November 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 48.8 in October from September's 49.8.
Canada: Economic activity growth remains broadly unchanged in August; flash estimate points to further small expansion in September
October 30, 2022
GDP expanded 0.1% in month-on-month seasonally-adjusted terms in August, matching July's 0.1% increase and above market expectations.
October 28, 2022
GDP growth was stable at 0.1% in month-on-month seasonally-adjusted terms in August.