Canadian Monthly Real GDP (February 2021) – April, 2021

Canadian real GDP grew by 0.4% in February, following a 0.7% increase in the previous month. This is the 10th consecutive monthly gain since the steepest drops in Canadian history was observed in March and April. This brings GDP 2% below the February pre-pandemic level of output. For estimates of economic growth in BC, follow BCREA’s monthly Nowcast of provincial GDP growth here:

Leading the increase the retail sector which jumped 4.5% after consecutive monthly declines prompted by provincial lockdown measures. Residential construction rose 4.7% while the GDP of offices of real estate agents and brokers was up 2.8%.

Early estimates from Statistics Canada indicate that real GDP grew by 0.9% in March. That puts first quarter Canadian GDP on track to grow about 6.5% on an quarterly annualized basis.

For more information, please contact: Gino Pezzani.


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