The Canadian economy grew 1.2 percent over a month earlier in August 2020, following an upwardly revised 3.1 percent expansion in the previous month and beating market expectations of a 0.9 percent gain. It was the fourth consecutive expansion, but still economic activity remained around 5% below February’s pre-pandemic level. Both goods-producing (+0.5%) and services-producing (+1.5%) industries were up as 15 of 20 industrial sectors posted increases and two were essentially unchanged. The public sector grew 1.9%, as all three components were up; professional services expanded 2.2%; and construction activity advanced 1.5%, as the majority of subsectors rose. Also, the manufacturing sector grew for the fourth straight month, although at a slower pace compared with the previous three months, rising 1.2%. The national statistical office also estimated a 0.7% growth in real GDP in September, pointing to an approximate 10% expansion in Q3 2020. source: Statistics Canada
Leading Economic Index in Canada averaged 0.19 percent from 1997 until 2020, reaching an all time high of 6.50 percent in June of 2020 and a record low of -11.70 percent in April of 2020. This page provides the latest reported value for - Canada GDP MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Leading Economic Index 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 Leading Economic Index in Canada to stand at 0.40 in 12 months time. In the long-term, the Canada GDP MoM is projected to trend around 0.40 percent in 2021 and 0.30 percent in 2022, according to our econometric models.