Canada Gdp Growth Rate 2024 Forecast. We expect that potential output in canada will grow by 2.3% and 2.5% in 2023 and 2024, respectively, and average slightly below 1.7% by 2027 as population growth. We expect canadian real gdp to grow by only 0.9% in 2024, with one or two quarters of negative growth early in the year.

The unemployment rate is likely to rise through the fourth quarter before reversing course next year. The gross domestic product (gdp) in canada expanded 0.50 percent in the second quarter of 2024 over the previous quarter.