describe the peaks, expansion and recession canadian gdp 2018/ 2019

Expert Solution

In Canada in 2018 the annual GDP was $1,712,479 million with a 2% growth rate. In 2019 GDP growth rate equals 1.6%. The GDP per capita was $46,290 in 2018; while it was $45,215 in 2017. In 2018 GDP per capita growth rate reduced to 2.4% in comparison to 2017 with 6.5% growth rate. Canadian GDP details in 2018-2019 are:

Date	Quarterly GDP	Quat. GDP Growth (%)	Quat. GDP Annual Growth (%)
2018Q1	287,210M.$	0.5%	2.5%
2018Q2	303,616M.$	0.4%	1.7%
2018Q3	316,942M.$	0.6%	2.0%
2018Q4	323,351M.$	0.2%	1.8%
2019Q1	327,967M.$	0.2%	1.5%
2019Q2	340,166M.$	0.9%	2.0%
2019Q3	354,347M.$	0.3%	1.6%
2019Q4	361,169M.$	0.1%	1.5%

The above table indicates that during 2018 in Q1 and Q3 there was an expansion phase while Q1 and Q4 reflects the contraction phase. However the year 2019 seems to reflect the recession phase with the lower GDP growth rate especially in Q3 and Q4

Rahul Sunny answered 2 months ago

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