Canada's economy is expected to have contracted by 0.2 percent in June 2023 due to decreases in manufacturing and wholesale sectors. However, the decline was partially offset by growth in oil and gas extraction, the real estate and rental and leasing sector. In the final estimates for May, the country's GDP was revised downwards to 0.3 percent from the initial 0.4 percent, with service-producing industries expanding by 0.5 percent and goods-producing industries dropping by 0.3 percent. Among sectors, manufacturing, wholesale and public administration drove the rise, while energy suffered the blow, affected by raging wildfires. source: Statistics Canada
Monthly GDP MoM in Canada averaged 0.19 percent from 1997 until 2023, reaching an all time high of 5.80 percent in June of 2020 and a record low of -10.80 percent in April of 2020. This page includes a chart with historical data for Canada Monthly GDP MoM. Canada Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Monthly GDP MoM in Canada is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Monthly GDP MoM is projected to trend around 0.50 percent in 2024, according to our econometric models.