Canada. GDP (YoY). The value of the indicator has increased from 2.29% to 2.31%

A report on this calendar event is released by the Statistics Canada.

Gross domestic product (GDP) is the total value of finished goods and services produced within a country in a certain time period.

GDP is a complex indicator that characterizes the general state of the economy and the dynamics of its development. First of all, the GDP indicator is used to compare levels of economic development in different countries.

Depending on the calculation procedure, there are the following types of the indicator: the nominal GDP (takes into account prices for goods and services in the current observation period); real GDP (prices for goods and services are fixed, excluding the inflation effect on GDP); GDP per capita.

The GDP dynamics assess the current state of the economy, its prospects, and the need for stimulation or deceleration by financial regulators.

As the overall indicator of economic development, GDP is the key indicator used by the government authorities, corporations, and private investors in the strategic decision-making and forecasting.

Comments by the MarketCheese analysts: an increase of the indicator value may contribute to the rise in quotes of CAD.