Canada CAD

Canada GDP Growth Rate QoQ

Impact:
High

Latest Release:

Date:
Big Surprise:
0.4%
| CAD
Actual:
0.6%
Forecast: 0.2%
Previous/Revision:
0.5%
Period: Q4

Next Release:

Date:
Forecast: 0.3%
Period: Q1
What Does It Measure?
The Canada GDP Growth Rate QoQ measures the percentage change in the Gross Domestic Product (GDP) of Canada from one quarter to the next. This economic indicator focuses on assessing the overall economic performance and health of the Canadian economy by tracking components such as production, income, consumption, and investment.
Frequency
This report is released quarterly, typically providing a preliminary estimate initially, followed by a final figure a month later.
Why Do Traders Care?
Traders closely monitor the Canadian GDP Growth Rate QoQ as it is a significant gauge of economic activity, impacting financial markets by reflecting the strength or weakness of the economy. Stronger GDP growth results than expected tend to boost the Canadian dollar (CAD) and equity markets, while weak growth can lead to bearish sentiments for these assets.
What Is It Derived From?
The GDP Growth Rate QoQ is calculated using data collected from various sectors of the economy, including consumption, investment, government expenditures, and exports minus imports. The calculation involves adjusting for seasonal variations and is derived from comprehensive national accounts data released by Statistics Canada, incorporating contributions from a broad range of economic activities.
Description
The GDP Growth Rate QoQ represents a quarter-over-quarter comparison of economic output, providing insights into the short-term economic trajectory. It allows analysts to track economic expansion or contraction trends, with an increase indicating growth and a decrease indicating a contraction in economic activity.
Additional Notes
This indicator serves as a coincident economic measure, reflecting current economic conditions alongside other indicators like employment and inflation. Comparatively, it often correlates with similar GDP reports from other nations, aiding in global economic analysis and interconnectedness.
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 Time Actual Forecast Previous Surprise
0.6%
0.2%
0.5%
0.4%
0.3%
0.4%
0.5%
-0.1%
0.5%
0.5%
0.4%
0.4%
0.6%
0%
-0.2%
0.2%
0.3%
-0.1%
-0.1%
-0.3%
0%
0.3%
-0.3%
0%
0.3%
0.6%
-0.3%
0.8%
0.4%
0%
0.4%
0%
0.4%
0.6%
-0.4%
0.7%
0.4%
0.8%
0.3%
0.8%
1%
0.8%
-0.2%
0.8%
1.4%
1.6%
-0.6%
1.6%
1.6%
1.3%
1.3%
0.5%
-0.8%
0.8%
-0.3%
0.6%
1.4%
-0.9%
1.4%
3.8%
2.2%
-2.4%
2.3%
1.5%
8.9%
0.8%
8.9%
10%
-11.3%
-1.1%
-11.5%
-12%
-2.1%
0.5%
-2.1%
-2.6%
0.1%
0.5%
0.1%
0.1%
0.3%
0.3%
0.2%
0.9%
0.1%
0.9%
0.4%
0.1%
0.5%
0.1%
0.5%
0.1%
-0.4%
0.1%
0.4%
0.5%
-0.3%
0.5%
0.3%
0.7%
0.2%
0.7%
0.6%
0.4%
0.1%
0.3%
0.3%
0.4%
0.4%
0.5%
0.4%
-0.1%
0.4%
0.4%
1%
1.1%
0.7%
0.9%
0.4%
0.9%
0.8%
0.7%
0.1%
0.6%
0.8%
0.9%
-0.2%
0.9%
1.5%
-0.3%
-0.6%
-0.4%
-0.9%
0.6%
0.5%
0.6%
0.4%
0.1%
0.2%
0.2%
-0.1%
0.6%
0.3%
0.6%
0.3%
-0.1%
0.3%
-0.1%
0.2%
-0.2%
-0.3%
-0.1%
0%
0.6%
-0.1%