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Data from Statistics Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada GDP MoM climbed to 0.2% in December 2024
Statistics CanadaQuarterlyReleased January 2025
Canada GDP MoM climbed to 0.2% in December 2024, released January 2025, up 0.3% from November's -0.1% reading. The reading matched the 0.2% consensus. The print is running well above the 12-month average of 0.1%. Over the past 3 months, GDP MoM averaged 0.1%, vs 0.08% in the prior 3-month window. The reading is in the 68th percentile of the trailing 24-month range.
Latest Release
0.2
Actual
0.2
Consensus
-0.1
Previous
Median Absolute Error
±0.14 percentage points
across last 12 releases
Last Call
Jan 2025
Predicted: 0.25
Actual: 0.2
Error: +0.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP MoM (Canada) was reported at 0.2% in January 2025. This matched the market consensus of 0.2% exactly. The reading rose from the previous value of -0.1%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 0.2%, up from the prior three at 0.17%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.14%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update January 2025.
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GDP MoM - CA
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About GDP MoM — Canada
DEFINITION
GDP MoM stands for Gross Domestic Product Month-over-Month and is a key economic indicator that measures the change in a country's total economic output from one month to the next. It provides valuable insights into the health and growth of a nation's economy, making it a crucial tool for investors, policymakers, and businesses to assess economic trends and make informed decisions. A positive GDP MoM indicates economic expansion, while a negative reading suggests a contraction. This indicator is closely monitored by financial experts and can have a significant impact on financial markets.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Nov 2024): actual 0.2 %, consensus 0.2 %. Prior reading (Oct 2024): -0.1 %. Before that (Oct 2024): 0.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.