GDP per capita in Canada
Canada - GDP per capita (U.S. Dollars)
GDP growth surprises to the upside in April
Canada’s economy proved resilient in April, growing 0.1% in monthly terms (March: +0.3% month-on-month s.a.), despite poor weather conditions and on the heels of a streak of downbeat leading data for the month. According to Statistics Canada, growth was driven by stronger manufacturing output and a nascent rebound in the housing market. The reading came in above analysts’ expectations of a flat figure.
April’s print recorded expansions in 12 of the 20 included industrial sectors. Goods-producing industries posted stronger output from a month earlier as the manufacturing sector built up inventories, while the utilities sector notched gains as cold weather drove demand for household heating. That said, the frigid springtime temperatures negatively impacted a number of other sectors in the month, including construction. For its part, oil and gas output posted a third straight monthly rise. Meanwhile, services-producing industries posted stable output as gains in the real estate sector—which have been grappling with this year’s new mortgage-lending rules—were offset by weather-induced losses in retail trade.
On an annual basis, growth dipped to 2.5% from 2.9% a month earlier. Meanwhile, annual average growth was stable from March at 3.4%, the strongest reading in nearly seven years.
Pleased by April’s outturn, Brian DePratto, Senior Economist at TD Economics, noted:
“Another pleasant surprise. […] What's more, to the extent that weather played a role in holding back growth, we should see an acceleration in May as this factor reverses. All told, we remain comfortable with our second quarter growth tracking of 2.4% [SAAR] – a solidly above-trend figure that is welcome after the soft start to the year.”
In April, the Bank of Canada revised its 2018 GDP growth forecast to 2.0% from 2.2% and its 2019 GDP growth forecast to 1.8% from 1.6%. Taking a broadly similar view, Met the why particular Consensus Forecast panelists expect the economy to grow 2.1% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists expect growth to moderate to 1.9%.
Canada - GDP per capita (USD) Data
|GDP per capita (USD)||52,486||50,772||43,565||42,438||45,081|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.35||1.00 %||Aug 03|
|Exchange Rate||1.31||0.15 %||Aug 07|
|Stock Market||16,286||0.23 %||Aug 07|
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July 20, 2018
Seasonally-adjusted consumer prices rose 0.1% from a month earlier in June, matching May’s increase.
July 12, 2018
House prices rose 0.9% on a monthly basis in June as the Teranet-National Bank National Composite House Price Index ticked higher, roughly in line with May’s 1.0% month-on-month increase.
July 11, 2018
On 11 July, the Bank of Canada (BoC) raised its target for the overnight rate by 25 basis points to 1.50%, as widely expected by market analysts.
July 8, 2018
Housing starts on a seasonally-adjusted annualized (SAAR) basis skyrocketed to 248,110 units in June, according to the Canada Mortgage and Housing Corporation (CMHC).
July 6, 2018
In June, the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, ticked up 0.6 points to land at 63.1 points.