Nominal GDP for Canada was $2,244bn in 2024, up from $2,174bn in 2023. The Canadian population was estimated at 39.7m in 2024 according to the IMF, while the United States is Canada’s biggest trading partner.
Variables Surveyed for Canada
Variables covered in our monthly analysis of Canada include:
- Gross Domestic Product
- Household Final Consumption Expenditure
- Net Operating Surplus Corporations
- Industrial Production
- Consumer Prices (CPI)
- Industrial Product Prices
- Average Hourly Earnings
- Housing Starts
- Unemployment Rate
- Current Account
- Federal Government Budget Balance
- Interest rates
- Monetary Policy Evaluation
- Canadian Dollar Currency Forecasts
Consensus Forecasts for Canada
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. in the PDF publication, we also show selected “comparison forecasters” including the IMF and OECD. The example below is an illustrative historical survey snapshot from September 2022, showing how individual forecasts and the consensus are presented.
Source: Consensus Forecasts – G-7 and Western Europe, September 2022
Special Surveys
In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Canada on topics such as:- Quarterly Forecasts
- Long-Term 5 and 10 Year Forecasts
- Economic Policy Evaluation
- Trends in Productivity and Wages
- Corporate Profits and Real Interest Rates
- Forecast Probabilities
Main Data Sources for Canada
- Statistics Canada: Statistics Canada produces statistical data and insights to help Canadians better understand their country's population, resources, economy, society and culture.
- Bank of Canada: The Bank of Canada is the nation's central bank. Their main role is “to promote the economic and financial welfare of Canada,” as defined in the Bank of Canada Act.
Comprehensive Forecasts Coverage
Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.Explore forecasts across G7 & Western Europe
Alongside this country forecast, explore the other economies covered by our G7 & Western Europe forecast publication.