The Canadian economy shrank 11.6 percent over a month earlier in April 2020, following a 7.5 percent contraction in the previous month and compared with market expectations of a 13 percent decline. It was the sharpest contraction on record, as April marked the first full month of coronavirus lockdown measures. All 20 industrial sectors of the Canadian economy were down, in particular manufacturing (-22.5%); construction (-22.9%); retail trade (-22.9%); transportation & warehousing (-23.1%); accommodation & food services (-42.4%); and wholesale trade (-17.9%). Also, the public sector fell 7.7%, of which health care (-10.4%), educational services (-8.6%); and public administration (-4.3%). Additionally, output shrank in real estate (-3.5%); mining, quarrying & oil (-9.4%); finance & insurance (-1%); and utilities (-1.8%). The national statistical office also provided a preliminary estimate of a 3 percent expansion in real GDP in May, amid the easing of covid-19 restrictions.
Leading Economic Index in Canada averaged 0.13 percent from 1997 until 2020, reaching an all time high of 1.20 percent in September of 2003 and a record low of -11.60 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 July of 2020. source: Statistics Canada
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 0.50 in 12 months time. In the long-term, the Canada GDP MoM is projected to trend around 0.40 percent in 2021, according to our econometric models.