Community Dashboard: Real gross domestic product growth
Current
4.87%
Previous
-6.85%
Preferred trend
Increase
Reporting date
Dec. 31, 2021
Rationale and analysis
Why this measurement is important
As a broad measure of overall domestic production, real gross domestic product growth functions as a comprehensive scorecard of the Region's economic health.
How we measure this data
As reported by Conference Board of Canada: The 2021 annual figure has been updated in February 2022 to reflect actual growth (previously-stated value was a July 2021 forecast figure).
Progress and advancements
Real GDP growth increased by 4.87 per cent in 2021 following the COVID-related downturn in 2020 and is forecast to grow by 5 per cent in 2022.
About this indicator
Gross domestic product is the total monetary or market value of all the finished goods and services produced within a specific time period.