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Canadian Economic Accounts
Quarterly Review
First quarter 2009

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GDP by income and by expenditure

Release date: June 1, 2009

Real gross domestic product (GDP) declined 1.4% in the first quarter, the largest quarterly decrease since 1991.  Both domestic and international demand continued to weaken.

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GDP by industry

Release date: June 1, 2009

Real Gross Domestic Product decreased 0.3% in March after a 0.1% decrease in February. The declines in February and March were less pronounced than those in the preceding three months.

Highlights in The Daily  Detailed analysis  Data tables

Balance of international payments

Release date: May 29, 2009

The current account deficit in the first quarter of 2009 expanded to $9.1 billion led by a further decline of the goods surplus to $0.8 billion, as exports fell by more than imports. Cross-border portfolio investment flows on the capital and financial account rebounded following the turmoil of the fourth quarter of 2008, adding significantly to large net inflows of funds to Canada in the first quarter of 2009.

Detailed analysis  Data tables

Financial flows

Release date: June 2, 2009

Total borrowing by Canada's non-financial sectors (households, private corporations, governments and government business enterprises) fell to $312 billion in the first quarter of 2009, down from $412 billion in the previous quarter.

Detailed analysis  Data tables

Labour productivity

Release date: June 16, 2009

The labour productivity of Canadian businesses rose 0.3% in the first quarter, in a context of sharply lower output and hours worked.

Detailed analysis  Data tables

International investment position

Release date: June 19, 2009

Canada recorded a $10.1 billion net foreign asset position in the first quarter of 2009.  As in the fourth quarter of 2008, the revaluation of foreign assets owing to the depreciation of the Canadian dollar more than offset the impact of a current account deficit.

Detailed analysis  Data tables

National balance sheet accounts

Release date: June 22, 2009

Household net worth declined by $72 billion (-1.3%) in the first quarter of 2009, a much slower rate of decline than in the last two quarters of 2008 during which cumulative losses totalled $438 billion.

Detailed analysis  Data tables