Canada GDP Growth Rate Annualized

Info

History

Chart

Impact:

High

Source: Statistics Canada

Latest Release:

Date:

Actual:

Forecast: 1%

Previous/Revision:

2.2%

Period: Q3

What Does It Measure?

Canada's GDP Growth Rate Annualized measures the percentage change in the country's Gross Domestic Product (GDP) over a specified period, typically reflecting the economic activity and production within Canada. It primarily assesses domestic consumption, investment, government spending, and net exports, with key indicators including the overall economic health and trends in sectors such as manufacturing, services, and trade.

Frequency

This report is released quarterly and includes both preliminary estimates and final figures, typically published about 60 days after the end of the quarter.

Why Do Traders Care?

Traders monitor Canada's GDP Growth Rate Annualized closely as it serves as a fundamental indicator of economic performance, influencing financial markets, particularly in currencies like the CAD, equities, and bond prices. Stronger-than-expected growth can bolster investor confidence and lead to appreciation of the Canadian dollar, while weaker growth may raise concerns about economic stability and lead to asset sell-offs.

What Is It Derived From?

Canada's GDP Growth Rate Annualized is derived from extensive national accounts data collected by Statistics Canada, utilizing comprehensive surveys of businesses and institutions across various sectors. The GDP calculation involves summing the total value of goods and services produced, adjusted for seasonal variations and inflation, ensuring a broad representation of economic activity.

Description

The distinction between preliminary and final reports is significant; preliminary data provides an early estimate that can be revised as more information becomes available, while the final report offers a more accurate depiction of economic performance. The annualized figure specifically reflects growth relative to the previous year, consolidating economic trends into a coherent annual forecast that informs both domestic and international economic perceptions.

Additional Notes

The GDP Growth Rate is a coincident economic indicator, reflecting current economic conditions, and it is often compared to other metrics like employment figures and inflation rates to assess overall health. Analysts also view this indicator within the context of global economic trends, especially in light of trade relations and monetary policies affecting both the Canadian and international economies.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Nov 29, 2024	1%	1%	2.2%
Nov 30, 2023	-1.1%	0.2%	1.4%	-1.3%
Sep 01, 2023	-0.2%	1.2%	2.6%	-1.4%
May 31, 2023	3.1%	2.5%	-0.1%	0.6%
Feb 28, 2023	0%	1.5%	2.3%	-1.5%
Nov 29, 2022	2.9%	1.5%	3.2%	1.4%
Aug 31, 2022	3.3%	4.4%	3.1%	-1.1%
May 31, 2022	3.1%	5.4%	6.6%	-2.3%
Mar 01, 2022	6.7%	6.5%	5.5%	0.2%
Nov 30, 2021	5.4%	3%	-3.2%	2.4%
Aug 31, 2021	-1.1%	2.5%	5.5%	-3.6%
Jun 01, 2021	5.6%	6.7%	9.3%	-1.1%
Mar 02, 2021	9.6%	7.5%	40.6%	2.1%
Dec 01, 2020	40.5%	47.6%	-38.1%	-7.1%
Aug 28, 2020	-38.7%	-39.6%	-8.2%	0.9%
May 29, 2020	-8.2%	-10%	0.6%	1.8%
Feb 28, 2020	0.3%	0.3%	1.1%
Nov 29, 2019	1.3%	1.2%	3.5%	0.1%
Aug 30, 2019	3.7%	3%	0.5%	0.7%
May 31, 2019	0.4%	0.7%	0.3%	-0.3%
Mar 01, 2019	0.4%	1.2%	2%	-0.8%
Nov 30, 2018	2%	2%	2.9%
Aug 30, 2018	2.9%	3%	1.4%	-0.1%
May 31, 2018	1.3%	1.8%	1.7%	-0.5%
Mar 02, 2018	1.7%	2%	1.5%	-0.3%
Dec 01, 2017	1.7%	1.6%	4.3%	0.1%
Aug 31, 2017	4.5%	3.7%	3.7%	0.8%
May 31, 2017	3.7%	3.6%	2.7%	0.1%
Mar 02, 2017	2.6%	2%	3.8%	0.6%
Nov 30, 2016	3.5%	3.4%	-1.3%	0.1%
Aug 31, 2016	-1.6%	-1.5%	2.5%	-0.1%
May 31, 2016	2.4%	2.9%	0.5%	-0.5%
Mar 01, 2016	0.8%	0%	2.4%	0.8%
Dec 01, 2015	2.3%	2.3%	-0.3%
Sep 01, 2015	-0.5%	-1%	-0.8%	0.5%
May 29, 2015	-0.6%	0.3%	2.2%	-0.9%