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.

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Canada GDP MoM

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.70 6.20 -11.40 1997 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
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 0.7% 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 0.4% 0.9%
2021-06-30 12:30 PM Apr
2021-07-30 12:30 PM May
2021-08-31 12:30 PM Jun
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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
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 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.