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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Gross Domestic Product climbed to 0.2% in March 2013
FMPMonthlyReleased March 2013
Canada Gross Domestic Product climbed to 0.2% in March 2013, up 0.4% from February's -0.2% reading. The print exceeded the 0.1% consensus by 0.1%.
Latest Release
0.2
Actual
0.1
Consensus
-0.2
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
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
Gross Domestic Product (Canada) was reported at 0.2% in March 2013. This beat the market consensus of 0.1% by 0.1%. The reading rose from the previous value of -0.2%.
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).
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 March 2013.
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Gross Domestic Product - CA
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About Gross Domestic Product — Canada
DEFINITION
Gross Domestic Product (GDP) is a widely used economic indicator that measures the total value of goods and services produced within a country's borders in a given period of time. It is a key measure of a country's economic health and is often used to track changes in the overall level of economic activity, as well as to compare the economic performance of different countries. GDP is an important tool for policymakers, investors, and businesses to understand and analyze the state of a country's economy.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2013): actual 0.2 %, consensus 0.1 %.
WHAT'S NEXT
This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.