The Canadian economy expanded by 0.2% in the fourth quarter of 2023, recovering from a revised 0.1% contraction in the previous period, helped by higher exports. The country's exports of goods and services rebounded by 1.4%, largely due to crude oil and crude bitumen sales (+6.2%). Meanwhile, imports of goods and services declined by 0.4%. Additionally, household spending edged up by 0.2%, accelerating from a 0.1% rise in Q3. However, business investment dropped for the sixth time over the last seven quarters. On an annual basis, real GDP grew 1.1%, the third consecutive year of expansion but at the slowest pace since 2016 (2020 excluded), as the economy faced pressure from high-interest rates. source: Statistics Canada
The Gross Domestic Product (GDP) in Canada expanded 0.20 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Canada averaged 0.76 percent from 1961 until 2023, reaching an all time high of 9.10 percent in the third quarter of 2020 and a record low of -11.00 percent in the second quarter of 2020. This page provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
The Gross Domestic Product (GDP) in Canada expanded 0.20 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate 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. In the long-term, the Canada GDP Growth Rate is projected to trend around 1.00 percent in 2025, according to our econometric models.