Canada CAD

Canada GDP MoM

Info

History

Chart

Impact:

High

Source: Statistics Canada

Latest Release:

Date:

Actual:

0.1%

Forecast: 0.1%

Previous/Revision:

-0.2%

Period: Mar

Next Release:

Date:

Period: Apr

What Does It Measure?

The Canada GDP Month-over-Month (MoM) measures the change in the country's gross domestic product (GDP) from one month to the next, providing insights into the pace of economic growth or contraction. It focuses on assessing overall production, economic activity, and the contributions of various sectors, such as services, manufacturing, and agriculture, to provide a comprehensive view of the Canadian economy's health.

Frequency

This report is released on a monthly basis, typically around the end of the following month, and may provide preliminary estimates that are later revised in final reports.

Why Do Traders Care?

Traders closely monitor Canada's GDP MoM as it serves as a key indicator of economic performance, influencing expectations for the Canadian dollar (CAD) and providing insights into potential monetary policy changes by the Bank of Canada. Higher-than-expected growth figures can bolster confidence in CAD and equities, while disappointing data may lead to bearish sentiment in both markets.

What Is It Derived From?

The GDP MoM figure is derived from a variety of economic data sources, including surveys of businesses, production data, and government expenditure statistics. It employs methods such as the production approach, which sums outputs by industry, weighted by their contribution to the GDP, allowing for a comprehensive and accurate representation of economic activity.

Description

The Canada GDP MoM is reported as a percentage change relative to the previous month, making it a useful short-term measure of economic performance. The preliminary data is based on early estimates that may be subject to revision, while final figures provide a more precise reflection of the economic landscape; both types are significant, but preliminary data can often react more immediately to market movements.

Additional Notes

The GDP MoM is typically considered a coincident economic indicator, as it reflects current economic activity in real time. Its results are analyzed in conjunction with related reports such as employment figures and consumer spending to provide a broader understanding of economic conditions, not only within Canada but also in comparison to other countries.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
May 30, 2025	0.1%	0.1%	-0.2%
Apr 30, 2025	-0.2%	0%	0.4%	-0.2%
Mar 28, 2025	0.4%	0.3%	0.3%	0.1%
Feb 28, 2025	0.2%	0.3%	-0.2%	-0.1%
Jan 31, 2025	-0.2%	-0.1%	0.3%	-0.1%
Dec 23, 2024	0.3%	0.1%	0.2%	0.2%
Nov 29, 2024	0.1%	0.3%	0%	-0.2%
Oct 31, 2024	0%	0%	0.1%
Sep 27, 2024	0.2%	0%	0%	0.2%
Aug 30, 2024	0%	0.1%	0.1%	-0.1%
Jul 31, 2024	0.2%	0.1%	0.3%	0.1%
Jun 28, 2024	0.3%	0.3%	0%
May 31, 2024	0%	0%	0.2%
Apr 30, 2024	0.2%	0.3%	0.5%	-0.1%
Mar 28, 2024	0.6%	0.4%	-0.1%	0.2%
Feb 29, 2024	0%	0.2%	0.2%	-0.2%
Jan 31, 2024	0.2%	0.1%	0%	0.1%
Dec 22, 2023	0%	0.2%	0%	-0.2%
Nov 30, 2023	0.1%	0%	0%	0.1%
Oct 31, 2023	0%	0.1%	0%	-0.1%
Sep 29, 2023	0%	0.1%	-0.2%	-0.1%
Sep 01, 2023	-0.2%	-0.2%	0.2%
Jul 28, 2023	0.3%	0.3%	0.1%
Jun 30, 2023	0%	0.2%	0.1%	-0.2%
May 31, 2023	0%	-0.1%	0.1%	0.1%
Apr 28, 2023	0.1%	0.2%	0.6%	-0.1%
Mar 31, 2023	0.5%	0.3%	-0.1%	0.2%
Feb 28, 2023	-0.1%	0%	0.1%	-0.1%
Jan 31, 2023	0.1%	0.1%	0.1%
Dec 23, 2022	0.1%	0.1%	0.2%
Nov 29, 2022	0.1%	0.1%	0.3%
Oct 28, 2022	0.1%	0%	0.1%	0.1%
Sep 29, 2022	0.1%	-0.1%	0.1%	0.2%
Aug 31, 2022	0.1%	0.1%	0%
Jul 29, 2022	0%	-0.2%	0.3%	0.2%
Jun 30, 2022	0.3%	0.3%	0.7%
May 31, 2022	0.7%	0.5%	0.9%	0.2%
Apr 29, 2022	1.1%	0.8%	0.2%	0.3%
Mar 31, 2022	0.2%	0.2%	0.1%
Mar 01, 2022	0%	0.1%	0.6%	-0.1%
Feb 01, 2022	0.6%	0.3%	0.8%	0.3%
Dec 23, 2021	0.8%	0.8%	0.2%
Nov 30, 2021	0.1%	0.1%	0.6%
Oct 29, 2021	0.4%	0.7%	-0.1%	-0.3%
Oct 01, 2021	-0.1%	-0.2%	0.6%	0.1%
Aug 31, 2021	0.7%	0.7%	-0.5%
Jul 30, 2021	-0.3%	-0.3%	-0.5%
Jun 30, 2021	-0.3%	-0.8%	1.3%	0.5%
Jun 01, 2021	1.1%	1%	0.4%	0.1%
Apr 30, 2021	0.4%	0.5%	0.7%	-0.1%
Mar 31, 2021	0.7%	0.5%	0.1%	0.2%
Mar 02, 2021	0.1%	0.3%	0.8%	-0.2%
Jan 29, 2021	0.7%	0.4%	0.4%	0.3%
Dec 23, 2020	0.4%	0.3%	0.8%	0.1%
Dec 01, 2020	0.8%	0.9%	0.9%	-0.1%
Oct 30, 2020	1.2%	0.9%	3.1%	0.3%
Sep 30, 2020	3%	3%	6.5%
Aug 28, 2020	6.5%	5.6%	4.8%	0.9%
Jul 31, 2020	4.5%	3.5%	-11.7%	1%
Jun 30, 2020	-11.6%	-13%	-7.5%	1.4%
May 29, 2020	-7.2%	-9%	0.1%	1.8%
Apr 30, 2020	0%	0.1%	0.2%	-0.1%
Mar 31, 2020	0.1%	0.1%	0.3%
Feb 28, 2020	0.3%	0.1%	0.1%	0.2%
Jan 31, 2020	0.1%	0%	-0.1%	0.1%
Dec 23, 2019	-0.1%	0.1%	0.1%	-0.2%
Nov 29, 2019	0.1%	0.1%	0.1%
Oct 31, 2019	0.1%	0.2%	0%	-0.1%
Oct 01, 2019	0%	0.1%	0.2%	-0.1%
Aug 30, 2019	0.2%	0.1%	0.2%	0.1%
Jul 31, 2019	0.2%	0.1%	0.3%	0.1%
Jun 28, 2019	0.3%	0.1%	0.5%	0.2%
May 31, 2019	0.5%	0.4%	-0.2%	0.1%
Apr 30, 2019	-0.1%	0%	0.3%	-0.1%
Mar 29, 2019	0.3%	0%	-0.1%	0.3%
Mar 01, 2019	-0.1%	0%	-0.1%	-0.1%
Jan 31, 2019	-0.1%	-0.1%	0.3%
Dec 21, 2018	0.3%	0.2%	-0.1%	0.1%
Nov 30, 2018	-0.1%	0.1%	0.1%	-0.2%
Oct 31, 2018	0.1%	0%	0.2%	0.1%
Sep 28, 2018	0.2%	0.1%	0%	0.1%
Aug 30, 2018	0%	0.1%	0.5%	-0.1%
Jul 31, 2018	0.5%	0.4%	0.1%	0.1%
Jun 29, 2018	0.1%	0%	0.3%	0.1%
May 31, 2018	0.3%	0.2%	0.4%	0.1%
May 01, 2018	0.4%	0.3%	-0.1%	0.1%
Mar 29, 2018	-0.1%	0.1%	0.2%	-0.2%
Mar 02, 2018	0.1%	0.1%	0.4%
Jan 31, 2018	0.4%	0.4%	0%
Dec 22, 2017	0%	0.2%	0.2%	-0.2%
Dec 01, 2017	0.2%	0.1%	-0.1%	0.1%
Oct 31, 2017	-0.1%	0.1%	0%	-0.2%
Sep 29, 2017	0%	0.1%	0.3%	-0.1%
Aug 31, 2017	0.3%	0.1%	0.6%	0.2%
Jul 28, 2017	0.6%	0.2%	0.2%	0.4%
Jun 30, 2017	0.2%	0.2%	0.5%
May 31, 2017	0.5%	0.2%	0%	0.3%
Apr 28, 2017	0%	0.1%	0.6%	-0.1%
Mar 31, 2017	0.6%	0.3%	0.3%	0.3%
Mar 02, 2017	0.3%	0.3%	0.5%
Jan 31, 2017	0.4%	0.3%	-0.2%	0.1%
Dec 23, 2016	-0.3%	0.1%	0.4%	-0.4%
Nov 30, 2016	0.3%	0.1%	0.2%	0.2%
Nov 01, 2016	0.2%	0.2%	0.4%
Sep 30, 2016	0.5%	0.3%	0.6%	0.2%
Aug 31, 2016	0.6%	0.4%	-0.6%	0.2%
Jul 29, 2016	-0.6%	-0.4%	0.1%	-0.2%
Jun 30, 2016	0.1%	0.1%	-0.2%
May 31, 2016	-0.2%	-0.1%	-0.1%	-0.1%
Apr 29, 2016	-0.1%	-0.1%	0.6%
Mar 31, 2016	0.6%	0.3%	0.2%	0.3%
Mar 01, 2016	0.2%	0.1%	0.3%	0.1%
Jan 29, 2016	0.3%	0.3%	0%
Dec 23, 2015	0%	0.2%	-0.5%	-0.2%
Dec 01, 2015	-0.5%	0%	0.1%	-0.5%
Oct 30, 2015	0.1%	0.1%	0.3%
Sep 30, 2015	0.3%	0.2%	0.4%	0.1%
Sep 01, 2015	0.5%	0.2%	-0.2%	0.3%
Jul 31, 2015	-0.2%	0%	-0.1%	-0.2%
Jun 30, 2015	-0.1%	0.1%	-0.2%	-0.2%
May 29, 2015	-0.2%	0.2%	-0.1%	-0.4%