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.

More information

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