The Canadian economy advance 0.3 percent on quarter in the three months to September 2019, slowing from a 0.9 percent expansion in the previous period. Growth was mainly driven by business investment and household spending. Expressed at an annualized rate, real GDP advanced 1.3 percent in the third quarter, easing from a 3.7 percent growth in the prior period but beating market consensus of 1.2 percent. GDP Growth Rate in Canada averaged 0.78 percent from 1961 until 2019, reaching an all time high of 3.10 percent in the fourth quarter of 1963 and a record low of -2.30 percent in the first quarter of 2009. source: Statistics Canada
GDP Growth Rate in Canada is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Canada to stand at 0.40 in 12 months time. In the long-term, the Canada GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.