GDP (annual) in Canada

Gross Domestic Product (GDP) represents the value of all final goods and services produced in Canada in a given period. It is the broadest gauge of the size and pace of the economy, produced by Statistics Canada, which also publishes a monthly GDP estimate by industry.

It can be measured three equivalent ways: by demand (private consumption, government spending, investment and net exports), by supply (the value added of all sectors plus taxes on products) and by income (wages, operating surplus and taxes on production less subsidies). This entry reflects the annual figure.

It is the main benchmark for the health and cycle of the Canadian economy and shapes Bank of Canada decisions. Growth above expectations supports the Canadian dollar and a tighter stance, while weak data feed expectations of rate cuts.

It is released with a lag of several weeks and the first estimates are revised in later publications, so the initial reading is not final. Canada also has a more volatile monthly GDP estimate, best read alongside the quarterly and annual figures.