Consumption in Canada

Canada Consumption | Economic News & Forecasts

Canada - Consumption

Economic activity rebounds in January

Confounding analysts’ expectations, the economy grew 0.3% month-on-month in January, following December’s 0.1% month-on-month contraction. According to Statistics Canada, 18 out of the 20 industrial sectors posted gains over the previous month, as improvements in the construction and manufacturing sectors more than offset a fifth consecutive monthly decline in the mining, quarrying and oil and gas extraction sector.

On an annual basis, growth ticked up to 1.6% in January from 1.1% in the previous month, while annual average growth inched down to 1.9% from 2.0% in December.

Dissecting January’s print, Benoit P. Durocher, a senior economist at Desjardins, noted that:

“Real GDP growth by industry exceeded our expectations for January. The widespread increases in various sectors suggest that Canada’s economy is gaining strength after several difficult months. Some risks remain, however, such as adjustments to domestic demand at higher interest rates, which could further trim production growth in the coming months. The carryover for the first quarter (assuming no changes in real GDP by industry in February and March) is higher than we expected, at close to 1% (annualized). We therefore have to increase our forecast for the first quarter to nearly 1.2%, instead of the 0.5% initially expected.”


Canada GDP Forecast


The Bank of Canada expects economic momentum to ease slightly this year and forecasts growth of 1.7% in 2019 and 2.1% in 2020. Met the why particular Consensus Forecast panelists see growth of 1.7% in 2019, which is down 0.1 percentage points from the previous month’s forecast, and 1.7% again in 2020.

Canada - Consumption Data

2013  2014  2015  2016  2017  
Consumption (annual variation in %)2.6  2.7  2.1  2.4  3.5  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Canada Facts

ValueChangeDate
Bond Yield1.721.00 %Apr 11
Exchange Rate1.330.15 %Apr 12
Stock Market16,4810.23 %Apr 12

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form