Real GDP growth (quarter on quarter, not annualized), Canada

Real GDP growth, quarter on quarter, is the percent change in Canada's inflation-adjusted, expenditure-based GDP from the previous quarter, as published by Statistics Canada about two months after the quarter ends. The rate here is not annualized.

It is the headline measure of how fast the Canadian economy is growing. Two consecutive quarterly declines are a common shorthand for recession, and markets react to the figure because it shapes expectations for Bank of Canada policy. For banks it gives a broad read on demand for credit and on the strain borrowers may face.

The main pitfall is the annualization convention. Statistics Canada reports both this quarterly rate and an annualized rate, roughly four times larger, and news coverage often quotes the annualized figure, as US releases always do. A reading of 0.5% here corresponds to about 2% annualized, so comparisons with the United States must use the same basis. Early estimates are also revised as more data come in, sometimes enough to change the sign, and strong population growth means positive GDP growth can coincide with falling output per person.

Real GDP growth is at its highest since Q1 2023, when it stood at 1.10%. Within ten years, real GDP growth beats 58% of readings.

Percent change in real GDP from the previous quarter, as published by Statistics Canada.

Statistics Canada publishes real GDP growth quarterly in Table 36-10-0104-01, in percent and is seasonally adjusted at an annual rate. Code: 36100104:1.7.1.30. Method for real GDP growth.