Statistics
Canada informed on Friday that the country’s gross domestic product (GDP) grew
0.1 per cent m-o-m in March after an unrevised 0.2 per cent m-o-m decline in February. This was in line with economists’ expectations.
In the first
quarter of 2025, the Canadian GDP increased 0.5 per cent q-o-q, following
a downwardly revised 0.5 per cent q-o-q growth (from +0.6 per cent q-o-q) in the fourth quarter of
2024. This represented the sixth quarterly advance in real GDP in a row.
According to
the report, the GDP’s first-quarter advance was driven by exports of goods and accumulations
of business non-farm inventories. Meanwhile, higher imports and weak
residential structure resale activity moderated the overall growth in the
reviewed period.
Expressed at an
annualised rate, Canada’s GDP expanded 2.2 per cent in the first quarter of 2025
after a downwardly revised 2.1 per cent rise (from +2.6 per cent) in the
previous quarter. This exceeded economists’ estimate of a 1.7 per cent y-o-y
increase.
Also,
Statistics Canada said its preliminary data indicates that real GDP edged up 0.1 per cent m-o-m in April.