Canada GDP: the monthly and quarterly growth figures and the loonie

Canada GDP is the measure of everything the Canadian economy produces, and Statistics Canada publishes it every month as well as every quarter. The monthly release comes with an early estimate for the month after, so the market gets two reads on growth at once, and both feed into the outlook for the Bank of Canada and the Canadian dollar.

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By Mike. Explanation updated 2 Oct 2026; the dates and moves below update with the research.

Canada GDP in short

Next release: Not on our calendar yet. It appears once the date is confirmed.
Published by: Statistics Canada
When: Monthly, near the end of the month and about two months after the month it covers, at 8:30 in the morning Ottawa time. That is 14:30 in Amsterdam for most of the year, and 13:30 in the few weeks when Canada and Europe have changed their clocks on different dates. Four times a year the quarterly figure comes out on the same morning.
Currency: Canadian dollar (CAD)
Impact: High: one of the releases that can move the currency on its own
The line read first: Real GDP by industry on the month, then the advance estimate for the month after
Covers: The month two months back, so the September release holds July
Quarterly figure: GDP, income and expenditure, with household spending, investment and trade

What is in the Canada GDP release

The monthly figure is GDP by industry: the value added by 20 industrial sectors, adjusted for prices and for the season. Statistics Canada calls it the timeliest measure of Canadian GDP.

Each release also carries an advance estimate for the month after. Statistics Canada flags it as preliminary and replaces it with the full figure a month later.

Four times a year comes the quarterly account, GDP, income and expenditure. It shows growth from the spending side: households, business investment, government, exports, imports and inventories.

Why Canada GDP moves the Canadian dollar

Growth tells the Bank of Canada how much room the economy has before it pushes up inflation. Weaker growth than forecast makes lower rates more likely and tends to weigh on the loonie; stronger growth does the opposite.

Oil and gas extraction is one of the industries the market checks first, because output there swings with production and outages. In the quarterly account, the oil price also shows up through export prices and the terms of trade, what Canada earns abroad against what it pays for imports.

The monthly figure looks back two months. That is why the advance estimate for the more recent month can matter as much as the main figure.

How to read Canada GDP against the forecast

Compare both figures with the forecast: the month that is now final and the advance estimate for the month after. A weak month followed by a firm advance estimate tells a different story than two weak months in a row.

On quarterly days, start with the change on the quarter, then household spending and business investment. Statistics Canada leads with the change on the quarter, while many reports also quote it at an annual rate, the way US GDP is reported, so compare like with like.

Look at which industries drove the change. Growth from a rebound after a strike, a wildfire or an outage says less about the trend than a broad rise across services.

What the Canadian dollar did on the last release days

Measured on our own prices: the Canadian dollar against the basket of the eight majors, from the London opening before the release to the one after it, so the release sits inside the window. Anything else that came out between those two openings is in it too, so a day with more news says less about this release alone.

Release	Amsterdam	Measured	CAD vs basket
29 Sept 2026	14:30	29 Sept to 30 Sept	-0.01%

For scale: on an ordinary day the Canadian dollar moves 0.16% against the basket from one London opening to the next, either way, on average over the 250 trading days since 14 Oct 2025.

The forecast, the figure itself and what it changed in our view of the currency are in the app, next to the research.

Questions about Canada GDP

What time is Canada GDP released?

At 8:30 in the morning Ottawa time, near the end of the month. In Amsterdam that is 14:30 for most of the year and 13:30 in the weeks when Canada and Europe change their clocks on different dates.

Why does Canada publish GDP every month?

Statistics Canada compiles GDP by industry each month, about 60 days after the month ends. It is the timeliest official measure of Canadian growth, and every quarter it is checked against the spending-based GDP figures.

What is the advance estimate of Canada GDP?

An early figure for the month after the one being released, published about one month after that month ends. Statistics Canada flags it as preliminary and replaces it with the full figure in the next release.

How does oil affect Canada GDP?

Directly through oil and gas extraction, one of the industries in the monthly figure. Indirectly through export prices, because a higher oil price raises what Canada earns abroad, which shows up in the terms of trade in the quarterly account.