Time: 12:30 pm GMT, Morocco time: 2:30 hours, Egypt time: 3:30 hours, Saudi time: 3:30 hours, Emirates time: 5:30 hours
Previous: 0.2% Expected: 0.0% Actual: 0.0%
What is meant by the GDP of Canada?
Gross Domestic Product is an economic indicator that measures the total value of goods and services produced within a country’s borders over a specified period, usually one year.
In Canada, the GDP indicator measures the total economic output of a country’s goods and services, including consumer spending, government spending, business investment, and net exports (the difference between exports and imports). It is calculated using various methods, including production approach, expenditure approach, and income approach.
The Gross Domestic Product (GDP) is a critical indicator of a country’s economic health and is used to assess the size and growth of an economy. It is also used as a benchmark for comparing the economic performance of different countries or regions. In Canada, the government, businesses, and individuals use GDP data to make economic decisions and formulate policies
If the release of the GDP indicator for Canada is larger than expected, it indicates that the country’s economy is growing faster than expected. This may be due to various factors, such as increased consumer spending, business investment or government spending. It may also be the result of better export performance, whereby the value of goods and services sold to other countries is higher than expected.
When a GDP release is larger than expected, it can have positive effects on the economy, such as increased investor confidence, increased consumer spending, and improved business performance. It may also cause the country’s currency to appreciate, which can make exports more expensive and imports cheaper.
If the release of the GDP indicator for Canada is lower than expected, it indicates that the economy is growing at a slower pace than expected. This may be due to various factors, such as lower consumer spending, lower business investment, or lower government spending. It can also be a result of poor export performance, in which the value of goods and services sold to other countries is less than expected.
When a GDP release is lower than expected, it can have negative effects on the economy, such as lower investor confidence, lower consumer spending, and poorer business performance. It may also lead to a depreciation of the country’s currency, which can make exports more competitive and imports more expensive.
How does the GDP of Canada affect the trading of the Canadian dollar in the forex market?
Canada’s GDP can have a significant impact on the Canadian dollar’s trading in the forex market. This is because GDP is a leading indicator of a country’s economic health, and forex traders often use economic data to make trading decisions.
If the Canadian GDP is growing, it is generally seen as positive for the Canadian economy, and this can increase demand for the Canadian dollar in the forex market. When there is more demand for a currency, its value usually increases compared to other currencies.
Conversely, if Canada’s GDP is declining or growing at a slower pace than expected, it could have a negative impact on the Canadian dollar. This is because a weaker economy is seen as a sign of lower demand for a currency, which can cause its value to drop relative to other currencies.
The body responsible for issuing the GDP index for Canada
Statistics Canada is responsible for producing the GDP indicator
Statistics Canada is a federal agency that collects and analyzes data on the Canadian economy, society and environment. The agency is responsible for producing a wide range of economic and social statistics, including the GDP indicator. Statistics Canada uses a variety of methods to calculate GDP, including the production approach, the expenditure approach, and the income approach. These methods measure various aspects of economic activity, such as the value of goods and services produced, the amount of money spent by consumers and businesses, and the income earned by individuals and businesses.
The release date of Canada’s GDP
Issued monthly, approximately 60 days after the end of the month
Next release
Jun 28, 2024
