Latest Updates

• Canada GDP: September 2025 2025-11-28 08:30

  

  Canada’s real GDP rose +0.6% QoQ in Q3 2025 (after -0.5% in Q2), marking a rebound driven primarily by a stronger trade balance as imports fell sharply and exports edged higher.

  • Imports dropped -2.2% QoQ, the largest decline since Q4 2022, reflecting lower inflows of precious metals and industrial machinery after unusually strong Q2 volumes.

  • Exports increased +0.2% QoQ (after -7.0% in Q2), supported by crude oil and bitumen (+6.7%) and commercial services (+1.7%), while precious metal exports declined.

  • Government capital investment rose +2.9% QoQ, led by an +82.0% surge in spending on weapon systems and additional investment in non-residential structures such as hospitals.

  • Business capital investment was flat overall, as gains in residential structures (+1.6%) and engineering structures (+0.2%) were offset by declines in machinery and equipment (-2.7%) and non-residential buildings (-1.5%).

  • Residential investment grew on ownership transfer costs (+9.1%) and renovations (+1.2%), while new construction fell -0.8% due to broad declines in apartment building activity.

  • Household final consumption slipped -0.1% QoQ, with vehicle purchases down -2.3% and spending abroad falling -3.9%, partly offset by higher expenditures on rent and financial services.

  • Government final consumption contracted -0.4% QoQ, the first decline since late 2023, reflecting lower federal spending following election-related outlays in Q2.

  • The GDP deflator rose +0.8% QoQ, driven by higher export prices (+1.6%), improving Canada’s terms of trade by +1.0%, the strongest gain since Q3 2023.

  • Compensation of employees increased +1.1% QoQ, with wage gains across nearly all industries and provinces; New Brunswick saw the fastest growth (+1.7%).

  • The household saving rate rose to 4.7% as disposable income (+0.8%) outpaced nominal consumption (+0.7%), helped by higher wage, self-employment, and dividend income and lower interest payments.

  • Corporate income increased +2.5% QoQ, supported by higher energy production, stronger mining sector earnings, improved refined energy product sales, and continued gains among financial corporations.

  

  Canada’s real GDP rose +0.2% MoM in September 2025 (after -0.1% in August), marking a modest rebound led by goods-producing industries and a broad pickup in manufacturing.

  • Goods-producing industries increased +0.6% MoM, while services edged up +0.1%, with 10 sectors expanding and manufacturing providing the largest boost.

  • Manufacturing output rose +1.6% MoM, driven by durable goods (+2.1%) and non-durable goods (+1.0%); machinery and wood products each gained +5.5%, and motor vehicles and parts climbed +3.7% as Ontario auto plants resumed production.

  • Transportation and warehousing rebounded +1.2% MoM (after -1.3% in August), as air transportation surged +6.0% following the end of a flight attendants’ strike, and support activities rose +2.2%.

  • Oil and gas extraction increased +0.9% MoM, its fourth consecutive gain, with oil sands output up +1.3% and conventional extraction up +0.5%; support activities for extraction rose +1.6%.

  • Mining and quarrying excluding oil and gas fell -2.2% MoM, led by non-metallic minerals (-3.9%) and potash (-4.9%), partly offsetting sector gains.

  • Wholesale trade rose +0.6% MoM, supported by building materials (+3.4%) and food, beverage, and tobacco wholesaling (+1.6%).

  • Retail trade declined -0.7% MoM, weighed by motor vehicle and parts dealers (-2.1%), general merchandise (-1.1%), building and garden equipment (-1.1%), and gasoline stations (-1.0%).

  • Construction fell -0.2% MoM, as residential building dropped -1.4%, while engineering construction (+1.2%) and non-residential building (+0.1%) provided partial offsets.

  • The advance estimate for October 2025 points to a -0.3% MoM decline, with decreases in oil and gas extraction, educational services, and manufacturing partly offset by gains in mining and support services.

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• Canada GDP: August 2025 2025-10-31 08:30

  

  Canada’s real GDP fell -0.3% MoM in August 2025, reversing July’s +0.3% gain, as both goods-producing and services-producing industries contracted amid widespread declines across key sectors.

  • Statistics Canada’s advance estimate points to a +0.1% GDP increase in September, implying roughly +0.1% growth for Q3 2025 overall.

  • Goods-producing industries dropped -0.6% MoM, marking the fifth decline of the year, while services-producing industries edged down -0.1% for the first time in six months.

  • Transportation and warehousing fell -1.7% MoM, led by air transportation (-4.6%), which saw its largest drop since January 2022 due to a mid-month flight attendants’ strike affecting 10,000 workers.

  • Wholesale trade declined -1.2%, the first drop in four months, driven by motor vehicle and parts wholesalers (-8.3%) and food, beverage, and tobacco wholesalers (-5.2%).

  • Mining, quarrying, and oil & gas extraction fell -0.7%, weighed down by lower drilling (-5.0%) and mining activity (-1.3%), though oil & gas extraction rose slightly (+0.2%) for a third month.

  • The utilities sector contracted -2.3%, its sixth straight monthly decline, as drought conditions reduced hydroelectric generation.

  • Manufacturing output fell -0.5%, with durable goods (-0.8%) led by machinery (-2.8%) and fabricated metals (-2.4%), while primary metals rose +3.7% on stronger aluminum exports.

  • Retail trade expanded +0.9%, its second consecutive gain, driven by auto dealers (+2.5%), clothing stores (+2.7%), and sporting goods retailers (+6.9%).

   

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• Canada GDP: July 2025 2025-09-26 08:30

  

  Canada’s real GDP rose +0.2% MoM in July 2025, the first increase in four months, driven by a rebound in goods-producing industries and steady gains in services.

  • Statistics Canada’s advance estimate suggests GDP was flat in August, with retail and wholesale gains offset by declines in mining, manufacturing, and transportation.

  • Goods-producing industries expanded +0.6% MoM, with all sectors contributing after three straight months of contraction.

  • Mining, quarrying, and oil & gas grew +1.4% MoM, led by metal ore mining (+2.6%) and oil sands extraction (+1.2%) as production ramped up post-maintenance.

  • Transportation & warehousing rose +0.6% MoM, supported by pipeline transportation (+2.8%) and higher LNG-related activity at Kitimat.

  • Manufacturing increased +0.7% MoM, with durable goods up +1.0% on strong motor vehicle (+9.1%) and parts (+10.5%) output, while primary metals fell -5.5% amid weaker steel exports under new U.S. tariffs.

  • Non-durable manufacturing rose +0.4% MoM, driven by chemical products (+4.8%) and pharmaceuticals (+12.6%).

  • Wholesale trade climbed +0.6% MoM, its third monthly gain, boosted by motor vehicles (+5.4%) and building materials (+2.5%).

  • Real estate & rental leasing rose +0.3% MoM, with home resale activity (+3.6%) in Ontario and B.C. driving a second consecutive record high.

  • Retail trade fell -1.0% MoM, weighed by food & beverage (-2.0%), clothing (-3.4%), and sporting goods (-8.2%), though non-store retailers rose +2.4%.

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• Canada GDP: June 2025 2025-08-29 08:30

  

  Canada’s real GDP contracted -0.4% QoQ in Q2 2025 (vs +0.5% in Q1), while annual growth slowed to +0.4% YoY, as weaker exports and business investment outweighed gains in household spending and inventories. Growth at an annualized rate was -1.6%, well below the forecast of -0.6%.

  

  • Exports fell -7.5% QoQ, led by sharp declines in passenger vehicles (-24.7%), industrial machinery (-18.5%), and travel services (-11.1%), reflecting the impact of US tariffs.

  • Imports declined -1.3% QoQ, with vehicle imports down -9.2% and travel services -8.5%, partly offset by a +35.8% surge in intermediate metal imports.

  • Business investment dropped -0.6% QoQ, with machinery and equipment plunging -9.4% (worst since 2016 outside 2020), while non-residential buildings fell -3.3%; engineering structures rose +3.6% on a large offshore oil project delivery.

  • Household consumption rebounded +1.1% QoQ, supported by autos (+5.6%), food (+0.9%), and services, though electricity (-3.2%) and alcohol (-3.9%) declined.

  • Residential investment rose +1.5% QoQ on new construction (+3.7%) and resale activity (+1.0%), though renovations fell -1.1%.

  • The household saving rate fell to 5.0% (from 6.0% in Q1), as weak income growth (+0.3% QoQ) lagged consumption (+1.2% QoQ).

  • Corporate operating surplus declined -1.9%, dragged by lower energy sector earnings, while financial corporations posted modest gains.

  • Federal government net borrowing increased, with revenue down -4.2% after the carbon tax removal, while expenditures rose +1.8% on higher goods/services purchases and settlement payments.

  

  Canada’s real GDP edged down -0.1% MoM in June 2025, the third consecutive monthly decline, as contractions in goods-producing industries outweighed modest gains in services. An advance estimate points to a +0.1% rebound in July.

  • Goods-producing industries contracted -0.5% MoM, led by manufacturing (-1.5%) and utilities (-1.2%); 11 of 20 sectors overall saw declines.

  • Durable manufacturing dropped -2.1% MoM, with motor vehicles (-12.6%), wood products (-4.3%), and transportation equipment (-4.4%) hit by US tariffs and weak exports.

  • Non-durable manufacturing fell -0.7% MoM, led by chemicals (-10.4%) and pharmaceuticals (-20.7%); petroleum products rebounded +11.0% as refineries resumed activity.

  • Services rose +0.1% MoM, supported by retail trade (+1.4%), wholesale trade (+0.5%), and real estate (+0.3%), though public sector activity softened.

  • Oil and gas extraction rebounded strongly (+2.6% MoM, with oil sands +6.4%), offsetting declines in natural gas (-1.0%) and support activities (-9.7%).

  • Construction grew +0.3% MoM on residential building (+1.6%), while non-residential (-1.0%) and engineering (-0.4%) weighed on overall activity.

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• Canada GDP: May 2025 2025-07-31 08:30
  

  Canada’s real GDP fell -0.1% MoM in May 2025, marking a second straight monthly contraction, as weakness in mining and retail offset gains in manufacturing and real estate.

  • Manufacturing rebounded +0.7% MoM, with durable goods up +1.2% and non-durables up +0.2%, led by strong gains in chemicals and fabricated metals.
  • Mining, quarrying, and oil & gas declined -1.0% MoM; oil sands extraction fell -3.0% due to maintenance disruptions.
  • Retail trade fell -1.2% MoM, dragged down by motor vehicle & parts (-4.8%), food & beverage (-2.5%), and gas stations (-3.1%).
  • Real estate and rental & leasing rose +0.3% MoM, with resale activity (+3.5%) recovering for a second straight month.
  • Public sector output declined -0.2% MoM, driven by a -3.2% drop in federal government activity post-election.
  • StatsCan’s advance estimate shows a +0.1% MoM rebound in June 2025, suggesting flat GDP for Q2 overall.

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• Canada GDP: April 2025 2025-06-27 08:30
  

  Canada’s real GDP fell -0.1% MoM in April, reversing the 0.2% gain in March, as sharp declines in manufacturing and wholesale trade outweighed modest strength in services and public sector activity.

  • Manufacturing dropped -1.9% MoM, the steepest since April 2021, with declines across both durable (-2.2%) and non-durable (-1.6%) goods; transportation equipment and petroleum products were key drags.
  • Wholesale trade declined -1.9% MoM, its worst performance since June 2023, led by a -6.8% fall in motor vehicle wholesaling.
  • Finance and insurance rose 0.7% MoM, driven by a 3.5% jump in investment services amid volatile equity market activity linked to U.S. tariff announcements.
  • Public sector output increased 0.4% MoM, with a 2.2% rise in federal government activity tied to the Canadian election.
  • Arts, entertainment and recreation surged 2.8% MoM, aided by strong spectator sports attendance during the NHL playoffs.
  • Real GDP is expected to decline another -0.1% MoM in May 2025, with weakness in mining, public administration, and retail trade partly offset by gains in real estate and leasing.

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• Canada GDP: March 2025 2025-05-30 08:30
  

  Canada’s real GDP grew 0.5% QoQ in Q1 2025, matching Q4 2024’s pace, driven by goods exports and business non-farm inventory accumulation, while final domestic demand was flat.

  • GDP growth on an annualized basis was 2.2%, above expectations of a 1.7% gain.
  • Exports rose 1.6% QoQ, led by passenger vehicles (+16.7%) and industrial machinery (+12.0%), while imports rose 1.1% QoQ on tariff-anticipation stocking.
  • Household spending slowed to 0.3% QoQ (0.1% per capita), with gains in rent and financial services offset by lower auto purchases.
  • Government consumption fell -0.1% QoQ, the weakest since Q4 2023.
  • GFCF fell -0.8% QoQ with both business and government fixed capital formation down -0.8% QoQ each.
  • Residential investment declined -2.8% QoQ, led by a sharp -18.6% drop in ownership transfer costs, despite gains in new construction (+1.7%) and renovations (+0.5%).
  • Business investment was mixed: non-residential structures fell -1.6%, intellectual property products declined -0.4%, but machinery and equipment surged +5.3%.
  • Compensation of employees rose 0.8% QoQ, with fastest wage growth in Saskatchewan, Alberta, and B.C.; household saving rate fell to 5.7% as consumption outpaced income growth.

  

  Canada’s real GDP rose 0.1% MoM in March 2025, partially recovering from a -0.2% decline in February, driven by gains in goods-producing sectors and select services. Advance estimates suggest another 0.1% GDP increase in April.

  • Mining, quarrying, and oil & gas extraction jumped 2.2% MoM, with crude petroleum rebounding and coal mining surging 16.8%.
  • Construction grew 0.5% MoM, led by residential (+1.3%) and non-residential (+1.5%) building construction.
  • Manufacturing fell -0.4% MoM, as both chemical (-6.1%) and machinery (-3.8%) manufacturing declined, partially offset by transportation equipment (+3.1%).
  • Retail trade rose 0.8% MoM, boosted by motor vehicle & parts dealers (+4.0%).
  • Utilities declined -4.1% MoM due to milder weather lowering electricity demand.

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• Canada GDP: February 2025 2025-04-30 08:30
  

  Canada’s GDP fell -0.2% MoM (vs 0.0% MoM expected) in February, partially offsetting the 0.4% MoM increase in January.

  • After driving growth in January, goods-producing industries (-0.6% MoM) drove the decline in February, as mining, quarrying, and oil and gas extraction and construction contributed the most to the aggregate's decline.
  • Services-producing industries edged down -0.1% MoM in February as contractions in transportation and warehousing and real estate and rental and leasing were partially offset by a rise in finance and insurance.
  • Overall, 12 of 20 industrial sectors declined in February.
  • The mining, quarrying, and oil and gas extraction sector was the largest detractor from growth, down -2.5% MoM.
  • Advance information indicates that real GDP increased 0.1% MoM in March.

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• Canada GDP: January 2025 2025-03-28 08:30
  

  Real GDP grew 0.4% MoM in January, following a 0.3% MoM increase in December, with gains across both goods-producing (+1.1% MoM) and services-producing (+0.1% MoM) industries.

  • Advance estimates suggest GDP was flat in February, with gains in manufacturing and finance offset by declines in real estate, oil & gas, and retail.
  • Mining, quarrying, and oil & gas extraction expanded 1.8% MoM, with oil & gas extraction up 2.6% MoM (oil sands +3.6% MoM, conventional oil & gas +1.5% MoM).
  • Manufacturing rebounded 0.8% MoM after two monthly declines, driven by durable goods (+2.0% MoM) and primary metal manufacturing (+4.8% MoM).
  • Utilities rose 2.7% MoM, following a 5.0% MoM increase in December, with electric power generation up 2.8% MoM.
  • Construction grew 0.7% MoM, led by residential building (+1.4% MoM) and non-residential building (+1.2% MoM).
  • Retail trade declined -0.9% MoM, with motor vehicle & parts dealers down -3.2% MoM and food & beverage stores down -2.6% MoM.

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• Canada GDP: December 2024 2025-02-28 08:30
  

  Canada’s GDP grew 0.6% QoQ in Q4 2024. The annualized rate was 2.6%, up from 2.2% and above the 1.9% expected annualized rate.

  • Household spending increased 1.4% QoQ, the strongest since Q2 2022.
  • In 2024 as a whole, spending grew 2.4% with goods spending up 1.6% and services spending up 3.0%.
  • Higher spending on new trucks, vans and sport utility vehicles led the overall increase in the fourth quarter of 2024, followed by financial services and telecommunication services.
  • Residential construction grew 3.9% in Q4 2024, the largest quarterly increase since Q1 2021. Despite the increase, it was down -1.1% in 2024 as a whole.
  • Exports grew 1.8% QoQ, outpacing a 1.3% QoQ increase in imports.

  

  GDP increased 0.2% MoM (vs 0.3% MoM expected) in December, and the preliminary estimate of January GDP growth is 0.3% MoM.

  • Services output was up 0.2% MoM, and goods output was up 0.3% MoM.
  • Retail trade increased 2.6% MoM, representing its largest monthly growth rate since June 2021.
  • The manufacturing sector was the largest detractor to growth in December, decreasing 0.9% MoM, down for the sixth time in seven months.
  • The utilities sector expanded 4.7% MoM, more than offsetting the previous month's -3.6% MoM decline.

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• Canada GDP: November 2024 2025-01-31 08:30
  

  Canada’s GDP fell -0.2% MoM in November, the largest monthly contraction since December 2023, but a preliminary December reading shows growth bouncing back at 0.2% MoM. Goods-producing industries contracted -0.6% MoM in November, partially offsetting the increase recorded in October (+0.9% MoM), with mining, quarrying, and oil and gas extraction and utilities driving most of the decline.

  After five consecutive monthly increases, the services-producing industries edged down 0.1% in November. The transportation and warehousing sector was the largest contributor to the decline, in large part resulting from work stoppages. Increases in activity in real estate and rental and leasing tempered the decline in the services-producing grouping.

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• Canada GDP: October 2024 2024-12-23 08:30

  Canadian GDP grew 0.3% MoM in October (vs 0.1% MoM expected) as the goods sector reversed from 4 straight declines to increase 0.9% MoM. The services sector improved 0.1% MoM as real estate started to come back following rate cuts. Broadly, 12 out of 20 sectors expanded in October. Manufacturing specifically increased 0.3% MoM driven by non-durables up 1.2% MoM which was offset by a -0.4% MoM decline in durables.

  The advance estimate for November is pointing to a -0.1% MoM decline in GDP which was lead by decreases in mining, quarrying, and oil and gas extraction, transportation and warehousing, and finance and insurance were partially offset by increases in accommodation and food services and real estate and rental and leasing.

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