YoY Change in Monthly GDP in Canada
Canada| Date | Value | ||
|---|---|---|---|
| Forecast | Actual | Deviation | |
| Date | Related Instruments Price Volatility | |||||
|---|---|---|---|---|---|---|
| 1 min later | 5 min later | 10 min later | 15 min later | 30 min later | ||
The year-over-year monthly gross domestic product (GDP) measures the total economic activity in Canada compared to the same month in the previous year. This data is released monthly by Statistics Canada and is crucial for evaluating long-term economic growth trends.
Year-over-year GDP data helps determine whether the economy is growing or stagnating. If GDP is increasing, it indicates economic expansion, with potential rises in corporate profits and employment. Conversely, if GDP is decreasing, it suggests economic stagnation or contraction, which could lead to declines in corporate profits and employment.
This data is essential for policymakers to assess the health of the economy and develop appropriate monetary and fiscal policies. For instance, if GDP shows high growth, the central bank might consider raising interest rates to mitigate inflation risks. Conversely, if GDP is decreasing, it may be necessary to enhance economic stimulus measures. For businesses and investors, GDP data is a vital source of information for economic forecasting and investment strategy development.
| Date | Value | Related Instruments Price Volatility | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Forecast | Actual | Deviation | 1 min later | 5 min later | 10 min later | 15 min later | 30 min later | 60 min later | ||
