Canada's economy is expected to have contracted by 0.2 percent in June 2023 due to decreases in manufacturing and wholesale sectors. However, the decline was partially offset by growth in oil and gas extraction, the real estate and rental and leasing sector. In the final estimates for May, the country's GDP was revised downwards to 0.3 percent from the initial 0.4 percent, with service-producing industries expanding by 0.5 percent and goods-producing industries dropping by 0.3 percent. Among sectors, manufacturing, wholesale and public administration drove the rise, while energy suffered the blow, affected by raging wildfires. source: Statistics Canada

Monthly GDP MoM in Canada averaged 0.19 percent from 1997 until 2023, reaching an all time high of 5.80 percent in June of 2020 and a record low of -10.80 percent in April of 2020. This page includes a chart with historical data for Canada Monthly GDP MoM. Canada Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Monthly GDP MoM in Canada is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Monthly GDP MoM is projected to trend around 0.50 percent in 2024, according to our econometric models.

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Canada Monthly GDP MoM



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-28 12:30 PM GDP MoM Prel Jun -0.2% 0.3% 0.1%
2023-07-28 12:30 PM GDP MoM May 0.3% 0.1% 0.3% 0.4%
2023-09-01 12:30 PM GDP MoM Prel Jul -0.2% 0.0%

Canada Monthly GDP MoM
In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.30 5.80 -10.80 1997 - 2023 percent Monthly
SA

News Stream
Canada Economy Likely Contracted in June
Canada's economy is expected to have contracted by 0.2 percent in June 2023 due to decreases in manufacturing and wholesale sectors. However, the decline was partially offset by growth in oil and gas extraction, the real estate and rental and leasing sector. In the final estimates for May, the country's GDP was revised downwards to 0.3 percent from the initial 0.4 percent, with service-producing industries expanding by 0.5 percent and goods-producing industries dropping by 0.3 percent. Among sectors, manufacturing, wholesale and public administration drove the rise, while energy suffered the blow, affected by raging wildfires.
2023-07-28
Canada Economy Seen Rising in May
Canada's economy is expected to have grown by 0.4 percent in May 2023, driven by increases in sectors such as manufacturing and wholesale, as well as real-estate related activities. There was also a rebound in federal government public administration (except defence). However, the mining, quarrying, and oil & gas extraction sector and the utilities sector likely contracted during the period. In the final estimates for April, the country's GDP was revised downwards to 0 percent from the initial 0.2 percent, with service-producing industries remaining flat and goods-producing industries experiencing a timid rise of 0.1 percent.
2023-06-30
Canada Economy Likely Grew 0.2% in April
Canada's economy is expected to have grown by 0.2 percent in April 2023, according to preliminary estimates, driven by increases in sectors such as mining, quarrying, oil and gas extraction, transportation and warehousing, as well as real estate-related activities. However, the wholesale and retail trade sectors, as well as public administration, likely contracted during this period. In the final estimates for March, the Canadian economy showed no growth during that period, with service-producing industries remaining flat and goods-producing industries experiencing a slight decline of 0.1 percent.
2023-05-31