The Canadian economy expanded 0.4% month-over-month in February of 2021, following a 0.7% growth in January and slightly below market expectations of a 0.5% growth. This 10th consecutive monthly increase continued to offset the steepest drops on record in Canadian economic activity observed in March and April 2020. However, total economic activity was about 2% below the level observed in February 2020, before the COVID-19 pandemic. Services-producing industries were up 0.6%, while goods-producing industries contracted (-0.2%) for the first time since April. Overall, 14 of the 20 industrial sectors expanded in February. Retail trade activity jumped 4.5% in February, following two months of decreases, as 10 of the 12 subsectors were up, helped by the easing lockdown restrictions in many provinces. Still, both mining, quarrying, and oil and gas extraction (-2.8%) and manufacturing (-0.9%) posted declines. source: Statistics Canada
Leading Economic Index in Canada averaged 0.19 percent from 1997 until 2021, 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 May of 2021.
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 0.30 percent in 2022, according to our econometric models.