The Canadian economy contracted 0.3% month-over-month in April of 2021, ending 11 consecutive monthly increases but less than forecasts of a 0.8% drop. Several provinces in Canada tightened COVID-19 restrictions during the month that largely curtailed the strong "non-essential" shopping seen in March. Overall, 12 of 20 industrial sectors were down as gains in goods-producing industries (+0.5%) were more than offset by contractions in services-producing industries (-0.6%), namely retail trade (-5.5%). Canadian economic activity remained at about 1% below its level before the COVID-19 pandemic in February 2020. source: Statistics Canada

Leading Economic Index in Canada averaged 0.20 percent from 1997 until 2021, reaching an all time high of 6.10 percent in June of 2020 and a record low of -11.20 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 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.

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Canada GDP MoM

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 1.30 6.10 -11.20 1997 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-31 12:30 PM Jan 0.7% 0.1% 0.5% 0.5%
2021-04-30 12:30 PM Feb 0.4% 0.7% 0.5% 0.5%
2021-06-01 12:30 PM Mar 1.1% 0.4% 1% 0.9%
2021-06-30 12:30 PM Apr -0.3% 1.3% -0.8% -0.8%
2021-07-30 12:30 PM May -0.3% -0.3% -0.3%
2021-08-31 12:30 PM Jun
2021-09-30 12:30 PM Jul
2021-10-29 12:30 PM Aug
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Canadian Economy Shrinks for 1st Time in 12 Months
The Canadian economy contracted 0.3% month-over-month in April of 2021, ending 11 consecutive monthly increases but less than forecasts of a 0.8% drop. Several provinces in Canada tightened COVID-19 restrictions during the month that largely curtailed the strong "non-essential" shopping seen in March. Overall, 12 of 20 industrial sectors were down as gains in goods-producing industries (+0.5%) were more than offset by contractions in services-producing industries (-0.6%), namely retail trade (-5.5%). Canadian economic activity remained at about 1% below its level before the COVID-19 pandemic in February 2020.
2021-06-30
Canada GDP Growth for March Beats Forecasts
The Canadian economy expanded 1.1% month-over-month in March of 2021, following a 0.4% growth in February and slightly above market expectations of a 1% growth. This 11th consecutive monthly increase continued to offset the steepest drops in Canadian economic activity on record observed in March and April 2020. However, total economic activity was about 1% below the level observed in February 2020, before the COVID-19 pandemic. Both goods-producing (+1.1%) and services-producing (+1.1%) industries were up, as 18 of 20 industrial sectors posted increases in March. Meanwhile, preliminary estimates for April point to a 0.8% contraction, the first since April 2020, reflecting in part additional public health measures in some parts of the country.
2021-06-01
Canada GDP Growth for February Misses Forecasts
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.
2021-04-30
Canada GDP Growth for January Beats Forecasts
The Canadian economy expanded 0.7% month-over-month in January of 2021, above expectations of a 0.5% rise and following a 0.1% growth in December. This ninth 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 3% below the February level before the COVID-19 pandemic. Both goods-producing (1.5%) and services-producing (0.4%) industries were up in January as the 20 industrial sectors were nearly evenly split between expansions and contractions. The manufacturing sector expanded 1.9%, more than offsetting a 0.7% contraction in December amid increases in sales and inventory buildup. The mining, quarrying, and oil and gas extraction sector grew 2.7%, with oil and gas extraction rising 2.1%; construction was up 1.4%; while retail trad fell 1.7%.
2021-03-31

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.