GDP is one of the most important indicators used to evaluate/analyze an economy because this one is telling exactly if an economy is expanding or contracting. Values higher than zero signal an economy that it is still in expanding territory, while values lower than zero show recessionary conditions.
GDP shows the change in inflation-adjusted value of all the goods and services produced by the economy.
Canada is unique in the sense that they release the fresh GDP data on a monthly basis. A quarterly GDP figure is also released, however, it’s merely a summation of the monthly data.
The most important things to take into consideration when looking at the GDP indicator are:
- Release date: monthly, about 60 days after the quarter ends;
- Release time: 12:30 GMT, during the North American trading session;
- Important indicator;
- First tier data.