Total Credit to Non-Financial Corporations, Adjusted for Breaks, for Canada
Billions of Canadian Dollars
CRDQCAANABIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,622.46
Year-over-Year Change
14.14%
Date Range
1/1/1969 - 10/1/2024
Summary
The 'Billions of Canadian Dollars' trend measures the total value of goods and services produced in Canada, adjusted for inflation. This key macroeconomic indicator provides insight into the overall health and growth of the Canadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic series represents the Gross Domestic Product (GDP) of Canada, which is the broadest measure of national economic activity. GDP tracks the market value of all final goods and services produced within the country over a given period, making it a crucial metric for policymakers and analysts to gauge economic performance.
Methodology
The data is collected and calculated by Statistics Canada through surveys and administrative sources.
Historical Context
GDP is widely used to inform monetary and fiscal policy decisions, as well as to analyze economic trends and make investment decisions.
Key Facts
- Canada's GDP reached a record high of $2.13 trillion in 2021.
- The Canadian economy grew by 4.5% in 2021 after contracting 5.2% in 2020 due to the COVID-19 pandemic.
- Services account for about 70% of Canada's GDP, with the largest sectors being real estate, finance, and healthcare.
FAQs
Q: What does this economic trend measure?
A: The 'Billions of Canadian Dollars' trend measures the total value of goods and services produced in Canada, adjusted for inflation. It is the broadest indicator of the country's economic activity and performance.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial metric for policymakers, investors, and analysts to gauge the overall health and growth of the Canadian economy. It informs decision-making on monetary and fiscal policies, as well as investment strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada through surveys and administrative sources.
Q: How is this trend used in economic policy?
A: GDP is widely used by the Bank of Canada, the federal government, and other policymakers to inform monetary and fiscal policy decisions, as well as to analyze economic trends and make investment decisions.
Q: Are there update delays or limitations?
A: The GDP data is typically released by Statistics Canada on a quarterly basis, with some delay to allow for comprehensive data collection and analysis.
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Citation
U.S. Federal Reserve, Billions of Canadian Dollars (CRDQCAANABIS), retrieved from FRED.