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Updated 2mo ago.
Updated 2mo ago.
Gross Domestic Product (GDP) measures the total value of all goods and services produced within a country during a given period, usually a quarter or a year. It is the most widely used indicator to assess the size and health of an economy. In Canada, GDP is calculated and published by Statistics Canada.
Canada's GDP was approximately CA$2.2 trillion in 2025, making it the 9th largest economy in the world. When Statistics Canada announces that GDP grew by 0.3% in a quarter, it means the Canadian economy produced 0.3% more goods and services than the previous quarter. Two consecutive quarters of negative GDP growth generally signal a recession.
GDP influences the Bank of Canada's decisions on the key interest rate: strong GDP may lead to rate hikes (to curb inflation), while weak GDP may trigger rate cuts (to stimulate the economy). These decisions directly affect mortgage rates, bond yields, and the value of your investments.