The Canadian economy grew by just 0.1% over a month earlier in December of 2020, following an upwardly revised 0.8% expansion in November and missing market expectations of a 0.3% rise. It was the eighth monthly expansion following sharp contractions in March and April, but still economic activity remained around 4% below February’s pre-pandemic level. Goods-producing industries were up 0.6% while services-producing industries edged down 0.1%, as 12 of 20 industrial sectors increased in December. In 2020, activity was down in 17 of 20 industrial sectors as the COVID-19 pandemic and measures put in place to reduce the spread of the virus affected economic activities to various degrees. Goods-producing industries shrank 6.2%, the most since 2009; while services-producing industries contracted 4.9%, the largest decline since series began in 1961. Meantime, preliminary estimates for January point to a 0.5% expansion, driven by wholesale trade, manufacturing and construction. source: Statistics Canada

Leading Economic Index in Canada averaged 0.19 percent from 1997 until 2020, reaching an all time high of 6.20 percent in June of 2020 and a record low of -11.40 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 March of 2021.

Leading Economic Index in Canada is expected to be 0.30 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 0.30 percent in 2022, according to our econometric models.

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Canada GDP MoM

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.80 6.20 -11.40 1997 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-01 01:30 PM Sep 0.8% 0.9% 0.9% 0.7%
2020-12-23 01:30 PM Oct 0.4% 0.8% 0.3% 0.5%
2021-01-29 01:30 PM Nov 0.7% 0.4% 0.4% 0.4%
2021-03-02 01:30 PM Dec 0.1% 0.8% 0.3% 0.3%
2021-03-31 12:30 PM Jan 0.1%
2021-04-30 12:30 PM Feb
2021-06-01 12:30 PM Mar
2021-06-30 12:30 PM Apr


News Stream
Canadian Economy Expands Less than Expected
The Canadian economy grew by just 0.1% over a month earlier in December of 2020, following an upwardly revised 0.8% expansion in November and missing market expectations of a 0.3% rise. It was the eighth monthly expansion following sharp contractions in March and April, but still economic activity remained around 4% below February’s pre-pandemic level. Goods-producing industries were up 0.6% while services-producing industries edged down 0.1%, as 12 of 20 industrial sectors increased in December. In 2020, activity was down in 17 of 20 industrial sectors as the COVID-19 pandemic and measures put in place to reduce the spread of the virus affected economic activities to various degrees. Goods-producing industries shrank 6.2%, the most since 2009; while services-producing industries contracted 4.9%, the largest decline since series began in 1961. Meantime, preliminary estimates for January point to a 0.5% expansion, driven by wholesale trade, manufacturing and construction.
2021-03-02
Canadian Economy Expands for 7th Month
The Canadian economy grew 0.7 percent over a month earlier in November of 2020, following a 0.4 percent expansion in the previous month and compared to market expectations of a 0.4 percent gain. It was the seventh consecutive month of expansion following the biggest contraction on record in March and April. Both goods-producing (1.2%) and services-producing (0.5%) industries were up, as 14 of 20 industrial sectors posted gains in November.
2021-01-29
Canada Economy Expands More than Expected
The Canadian economy grew 0.4 percent over a month earlier in October 2020, following a 0.8 percent expansion in the previous month and compared to market expectations of a 0.3 percent gain. It was the sixth consecutive expansion, but still economic activity remained around 4% below February’s pre-pandemic level. Both goods-producing (+0.1%) and services-producing (+0.5%) industries were up as 16 of 20 industrial sectors posted increases in October. The professional services sector grew 1.0%; the finance and insurance sector increased 0.8%; the wholesale trade sector was up 0.8%; the public sector (educational services, health care and social assistance, and public administration) rose 0.7%; and the construction sector advanced 0.7%. Meantime, the mining, quarrying, and oil and gas extraction was essentially unchanged while the manufacturing sector contracted 0.8%. Meantime, preliminary estimates for November showed a 0.4% expansion.
2020-12-23
Canadian Economy Expands for 5th Month
The Canadian economy grew 0.8 percent over a month earlier in September 2020, following a downwardly revised 0.9 percent expansion in the previous month and compared to market expectations of a 0.9 percent gain. It was the fifth consecutive expansion, but still economic activity remained around 5% below February’s pre-pandemic level. Both goods-producing (+0.7%) and services-producing (+0.8%) industries were up as 16 of 20 industrial sectors posted increases in September. The public sector grew 0.8% as all three components rose: educational services (1.1%); health care and social assistance (0.7 percent) and public administration (0.7 percent); and professional services expanded 1.3%. The manufacturing sector rose 1.0% and mining, quarrying and oil and gas extraction was up 4.1%.
2020-12-01

Canada GDP MoM
In Canada, Leading Economic Index refers to GDP Growth MoM which measures the change in the value of the goods and services produced by the country economy compared to the previous month.