The Canadian economy shrank an annualized 38.7 percent in the three months to June 2020, following plunging 8.2 percent in the previous period and compared with market forecasts of a 39.6 percent plunge. It was the second consecutive contraction and the sharpest on record, officially entering a recession as the coronavirus pandemic hit the economy. source: Statistics Canada

GDP Growth Annualized in Canada averaged 2.88 percent from 1961 until 2020, reaching an all time high of 12.60 percent in the fourth quarter of 1963 and a record low of -38.70 percent in the second quarter of 2020. This page provides - Canada Gdp Growth Annualized - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

GDP Growth Annualized in Canada is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Canada to stand at 3.00 in 12 months time. In the long-term, the Canada GDP Growth Annualized is projected to trend around 3.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Canada GDP Growth Annualized

Actual Previous Highest Lowest Dates Unit Frequency
-38.70 -8.20 12.60 -38.70 1961 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-11-29 01:30 PM Q3 1.3% 3.5% 1.2% 1.5%
2020-02-28 01:30 PM Q4 0.3% 1.1% 0.3% 0.3%
2020-05-29 12:30 PM Q1 -8.2% 0.6% -10% -9%
2020-08-28 12:30 PM Q2 -38.7% -8.2% -39.6% -38%
2020-12-01 01:30 PM Q3 -38.7% 46%
2021-03-01 01:30 PM Q4 3.5%
2021-05-28 12:30 PM Q1
2021-08-27 12:30 PM Q2

Canada GDP Last Previous Highest Lowest Unit
GDP Growth Rate -11.50 -2.10 3.10 -11.50 percent [+]
GDP Annual Growth Rate -13.00 -0.90 9.30 -13.00 percent [+]
GDP Growth Annualized -38.70 -8.20 12.60 -38.70 percent [+]
GDP 1736.43 1716.26 1847.21 40.46 USD Billion [+]
GDP Constant Prices 1820369.00 2057186.00 2101480.00 343577.00 CAD Million [+]
Gross National Product 1972932.00 2258920.00 2316408.00 39924.00 CAD Million [+]
Gross Fixed Capital Formation 376060.00 437942.00 473052.00 57964.00 CAD Million [+]
GDP per capita 51588.80 51476.20 51588.80 22843.60 USD [+]
GDP per capita PPP 49031.38 48924.40 49031.38 30891.62 USD [+]
GDP From Agriculture 42010.00 42008.00 42259.00 23668.00 CAD Million [+]
GDP From Construction 142337.00 140233.00 147533.00 71294.00 CAD Million [+]
GDP From Manufacturing 190551.00 188240.00 218222.00 142187.00 CAD Million [+]
GDP From Mining 121629.00 123765.00 159629.00 99558.00 CAD Million [+]
GDP From Public Administration 134697.00 133098.00 136433.00 82547.00 CAD Million [+]
GDP From Services 1351922.00 1332560.00 1415545.00 753361.00 CAD Million [+]
GDP From Transport 69548.00 69586.00 90231.00 51402.00 CAD Million [+]
GDP From Utilities 43868.00 44830.00 44830.00 31420.00 CAD Million [+]


Canada GDP Growth Annualized
GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.