Canada Gross Domestic Product (GDP) m/m reflects a change in the total value of all goods and services produced in all sectors of economy in Canada, in the current month compared to the previous one. Canada's GDP is calculated using purchasers' prices and represents the sum of the gross value added created by all Canadian resident manufacturers. The GDP calculation includes any taxes on products. Subsidies to the enterprise, which are not included in the cost of production, are excluded from calculation.
GDP is based on the monetary estimate of the value of goods, therefore it requires an adjustment for inflation. Depending on whether adjustment is applied, GDP can be real and nominal. Nominal GDP ignores inflation and deflation, that is why it is difficult to measure the indicator change based on the nominal value. Real GDP accounts for the effect of inflation and enables the seamless comparison of economic activity over long periods (for example by showing GDP change in relation to the previous year or quarter in percentage). For this purpose, the GDP deflator is included in the calculation formula.
GDP calculation includes data in 192 industries (to ensure sufficient data specification).
GDP is usually used as an indicator of the national economy state and of the standard of living. Its growth is interpreted as the strengthening of economy, the decline shows weakening. Therefore, GDP growth can affect CAD quotes positively.
The chart of the entire available history of the "Canada Gross Domestic Product (GDP) m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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