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.

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Canada GDP MoM

Actual Previous Highest Lowest Dates Unit Frequency
1.20 3.10 6.50 -11.70 1997 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-31 12:30 PM May 4.5% -11.7% 3.5% 3%
2020-08-28 12:30 PM Jun 6.5% 4.8% 5.6% 5%
2020-09-30 12:30 PM Jul 3% 6.5% 3% 3%
2020-10-30 12:30 PM Aug 1.2% 3.1% 0.9% 1%
2020-12-01 01:30 PM Sep 1.2% 0.9% 0.7%
2020-12-23 01:30 PM Oct
2021-02-01 01:30 PM Nov
2021-03-01 01:30 PM Dec


News Stream
Canada Economy Expands More than Expected in August
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.
2020-10-30
Canadian Economy Expands for 3rd Month
The Canadian economy grew 3 percent over a month earlier in July 2020, following a 6.5 percent expansion in the previous month and matching market expectations. It was the third consecutive monthly gain, but still the activity remained around 6 percent below February’s pre-pandemic level. Both goods-producing (3.2 percent) and services-producing industries (3 percent) were up as all 20 industrial sectors posted gains. Among sectors, the pre-pandemic levels were surpassed in agriculture (1 percent); utilities (3.5 percent); finance & insurance (1 percent); and real estate rental and leasing (1.9 percent). The national statistical office also estimated a 1 percent growth in real GDP in August, as output continues to recover in several sectors amid the easing of COVID-19 lockdown restrictions.
2020-09-30
Canada Economic Activity Expands at Record Pace
The Canadian economy grew 6.5% over a month earlier in June of 2020, quickening from an upwardly revised 4.8% percent expansion and beating market expectations of a 5.6% advance. It was the strongest growth in economic activity since series began in 1961, amid the further easing of coronavirus lockdown restrictions. Both goods-producing (7.5%) and services-producing (6.1%) industries were up as 19 of 20 industrial sectors expanded, in particular accommodation & food services (28.5%); retail trade (22.3%); wholesale trade (15.8%); manufacturing (14.6%) and construction (9.4%). The national statistical office also provided a preliminary estimate of a 3% growth in real GDP in July, as output increased in a number of sectors amid the relaxation of Covid-19 restrictions.
2020-08-28
Canadian Economy Recovers at Record Pace
The Canadian economy grew 4.5% over a month earlier in May 2020, recovering from an upwardly revised record 11.7% contraction in April and beating market expectations of a 3.5% expansion. It was the strongest growth in economic activity since series began, amid the easing of coronavirus lockdown restrictions. Both goods-producing (+8%) and services-producing industries (+3.4%) were up, as 17 of 20 industrial sectors posted increases. Construction increased 17.6% as all types of construction activities expanded and retail trade grew at the sharpest pace on record (+16.4%) as 11 of the 12 subsectors were up, namely motor vehicle & parts dealers (+68.6%), clothing (+94.8%) and sporting goods, book and music stores (+98.2%) bounced back. In addition, the manufacturing sector grew 7.4% and wholesale activity rebounded (+6%), following three months of contraction. The national statistical office provided a preliminary estimate of a 5 percent expansion in real GDP in June.
2020-07-31

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.