Graph and download economic data for OECD based Recession Indicators for Canada from the Peak through the Trough (CANRECM) from Feb 1960 to Sep 2022 about peak, trough, recession indicators, and Canada.

The statistic shows the gross domestic product (GDP) in Canada from 1987 to 2023, with projections up until 2029. In 2023, the gross domestic product in Canada was around 2.14 trillion U.S. dollars.

The economy of Canada

Canada is the second biggest country in the world after Russia and the biggest country in North America. Despite its large size, Canada has a relatively small population of just around 35.9 million people. However, the total population in Canada is estimated to grow to around 37.5 million inhabitants in 2020. The standard of living in the country is pretty high, the life expectancy as of 2013 in Canada ranks as one of the highest in the world. In addition, the country ranks number eight on the Human Development Index (HDI) worldwide.

All key factors point to a stable and sustainable economy. Not only is Canada’s population increasing, but the economy has been slowly recovering after the global financial crisis in 2008. The unemployment rate in Canada in 2010 was at approximately 8 percent (263696). Today, the unemployment rate in Canada is estimated to be around 6.8 percent, and it is estimated to decrease further. During the financial crisis in 2008, Canada's inflation rate amounted to around 2.4 percent. By 2013, the inflation rate was at less than 1 percent in comparison to the previous year.

Canada is considered to be one of the world’s wealthiest countries. By value of private financial wealth, Canada ranked seventh along with Italy. In addition, its gross domestic product per capita in 2014 was among the largest in the world and during the same year, its gross domestic product increased by over 2.5 percent in comparison to the previous year. Canada’s economic growth has been a result of its political stability and economic reforms following the global financial crisis. In the period between 2009 and 2010, Canada was among the leading countries with the highest political stability in the world.

This statistic shows the influence of the most recent economic recession (2008-2009) on consumer shopping behavior in Canada as of August 2013. During the survey, 44 percent of the respondents said that they shop around more to make sure they are paying the best price.

As of June 2020, a survey found that 79 percent of Canadian adults were concerned about future financial recession due to the coronavirus outbreak. This was a large increase from the 55 percent that expressed a fear of economic downturn in December 2019.

The Economic and Fiscal Snapshot 2020 lays out the steps Canada is taking to stabilize the economy and protect the health and economic well-being of Canadians and businesses across the country during the public health and economic crisis linked to the COVID-19 pandemic.

Matlab and Stata code for replication of "Crisis Management in Canada: Analyzing Default Risk and Liquidity Demand during Financial Stress."Data was provided under an NDA from the BoC, hence only the raw code is available for download.

The statistic shows the gross domestic product (GDP) per capita in Canada from 1987 to 2023, with projections up until 2029. In 2023, the gross domestic product per capita in Canada was around 53,607.4 U.S. dollars. Canada's economy GDP per capita is a measurement often used to determine economic growth and potential increases in productivity and is calculated by taking the GDP and dividing it by the total population in the country. In 2014, Canada had one of the largest GDP per capita values in the world, a value that has grown continuously since 2010 after experiencing a slight downturn due to the financial crisis of 2008. Canada is seen as one of the premier countries in the world, particularly due to its strong economy and healthy international relations, most notably with the United States. Canada and the United States have political, social and economical similarities that further strengthen their relationship. The United States was and continues to be Canada’s primary and most important trade partner and vice versa. Canada’s economy is partly supported by its exports, most notably crude oil, which was the country’s largest export category. Canada was also one of the world’s leading oil exporters in 2013, exporting more than the United States. Additionally, Canada was also a major exporter of goods such as motor vehicles and mechanical appliances, which subsequently ranked the country as one of the world’s top export countries in 2013.

As of January 7, 2025, the Canadian bond market displayed a positive spread of 35 basis points between 10-year and 2-year yields, indicating long-term rates above short-term ones. The 2-year versus 1-year spread, on the other hand, showed a negative 4.2 basis points, suggesting a mildly inverted yield curve. Negative spreads indicate a (partially) inverted yield curve. This often signals investor pessimism about short-term economic prospects, as investors seek the relative safety of long-term bonds, pushing those yields down relative to shorter-term bonds. An inverted yield curve is typically interpreted as a potential indicator of economic slowdown or recession, as it reflects expectations of lower interest rates in the future to stimulate the economy.

The Ipsos Canada’s Pulse series offer a sampling of public opinion at the municipal level in Canada’s largest urban centres. These surveys, commissioned on behalf of Global Television, query respondents on national as well as local issues and concerns. Respondents from each city within the survey are asked to answer questions particular to their municipality and province. The survey therefore reveals local and timely data on topics such as municipal and community leadership, health care, commuting and traffic, elections, taxation, the economy, and culture. The 2010 Canada's Pulse poll is accompanied by a series of statistical tables and city-specific reports for further analysis. This survey has a sample of 7208 Respondents

During the Great Recession of 2008-2009, the advanced economies of the G7 experienced a period of acute financial crises, downturns in the non-financial economy, and political instability. The governments of these countries in many cases stepped in to backstop their financial sectors and to try to stimulate their economies. The scale of these interventions was large by historical standards, with observers making comparisons to the measures of the New Deal which the U.S. undertook in the 1930s to end the Great Depression.

The bailouts of financial institutions and stimulus packages caused the government debt ratios of the United States, United Kingdom, and Japan in particular to rise sharply. The UK's government debt ratio almost doubled due to the bailouts of Northern Rock and Royal Bank of Scotland. On the other hand, the increases in government debt in the Eurozone were more measured, due to the comparative absence of stimulus spending in these countries. They would later be hit hard during the Eurozone crisis of the 2010s, when bank lending to the periphery of the Eurozone (Portugal, Spain, Ireland and Greece in particular) would trigger a sovereign debt crisis. The Canadian government, led by a Conservative premier, engaged in some fiscal stimulus to support its economy, but these packages were small in comparison to that in most other of the G7 countries.

Snapshot img

Modular Data Centers Market Size 2024-2028

The global modular data centers market size is forecast to increase by USD 42.56 billion, at a CAGR of 19.8% between 2023 and 2028. The need to streamline traditional data centers is a major factor fueling market growth. Today, companies running single conventional data centers grapple with complex management and soaring capital costs due to sophisticated power and cooling systems. With the current economic recession, businesses are increasingly seeking cost-effective and scalable solutions. Modular data centers, with their standardized, portable designs, provide an ideal alternative that can be quickly deployed. Mobile network operators and colocation providers are among the leading users of these solutions. These modular setups are more environmentally friendly, thanks to their energy-efficient HVAC systems and IT equipment. As big data, AI, cloud computing, 5G, and IoT applications require higher operating temperatures, the flexibility and scalability of modular designs become even more crucial.

What will be the Size of the Market During the Forecast Period?

To learn more about this report, Download Report Sample

Market Segmentation

By End-user

IT and Telecom is the Leading Segment to Dominate the Market

The IT and telecom segment is estimated to witness significant growth during the forecast period. In the global market, Modular Data Centers hold a significant share, particularly in the IT and telecom sector. These centers are essential for providing the required computing power and storage for various applications and services in the industry. With the rise of cloud computing, the demand for data centers has escalated, as businesses seek to access resources without substantial capital expenditure. The IT and telecom segment was the largest and was valued at USD 4.02 billion in 2018. The influx of data from businesses and individuals necessitates data centers capable of handling vast amounts of information. Recession or not, Modular Data Centers offer scalability and rapid deployment, making them attractive to mobile network providers and data center colocation providers. Green data centers, with their standard design and cooling systems, are increasingly popular due to their energy efficiency. Big data, AI, cloud computing, 5G infrastructure, Internet of things, and cloud-based solutions are driving the market's growth.

For more details on other segments, Download Sample Report

North America Holds a Prominent Position in the Market

North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Edge computing trend is driving the growth of the market in the US and Canada, particularly in the BFSI industry. Large enterprises are shifting towards energy-efficient data centers to minimize costs and CAPEX, opting for cloud solutions from hyperscale providers like AWS, Microsoft, and Oracle. As of 2021, the US hosts over 2,670 data centers, making it the global leader. Quicksilver Capital and the World Economic Forum highlight the importance of digital transformation in this context. These offer Scalable data centers for large enterprises, enabling them to meet their computing capacity requirements efficiently.

To understand geographic trends Download Report Sample

Market Dynamics and Customer Landscape

They have emerged as a popular solution for businesses seeking scalability and rapid deployment during times of economic uncertainty, such as a recession. These data centers utilize a modular design, allowing for easy expansion and contraction based on demand. Green data centers, which prioritize energy efficiency, are a key focus in the modular data center market. Mobile network providers and large enterprises are major consumers, as they require cloud-based networking and 5G infrastructure to support digital transformation initiatives. The solutions sub-segment and services segment of the modular data center market are expected to grow significantly, as businesses increasingly turn to cloud-based solutions for their data storage and processing needs. The World Economic Forum has the importance of energy-efficient data centers in reducing carbon emissions and mitigating the environmental impact of digitalization. Quicksilver Capital and other investors have shown interest in the modular data center market, recognizing its potential for innovation and growth. Overall, the modular data center market is poised for expansion, driven by the need for scalable, energy-efficient, and quickly deployable solutions.

Key Market Driver

Requirement to reduce complexity of traditional data centers is notably driving market growth. In today's business landscape, enterprises operating a single traditional data center face

The data and programs replicate tables and figures from “Community Attachment, Job Loss and Regional Labour Mobility in Canada: Evidence from the Great Recession", by Messacar. Please see the ReadMe file for additional details.

This Gallup poll seeks the opinions of Canadians on important current events topics of the day. Many of the questions in this survey deal with predictions of social, political and economic conditions for the future. The respondents were also asked questions so that they could be grouped according to geographical and social variables. Topics of interest include: American power in 1970; the amount of student demonstrations; chance of atomic war by 1990; changing the voting age; Chinese power in 1970; the collapse of capitalism; the collapse of civilization; continuation of space programmes; the country with the strongest claim to the South Pole; a cure for cancer; the disappearance of Communism; economic prosperity in 1970; the amount of excitement in life; heart transplant operations; International discord in 1970; the length of life span in the future; man living on the moon; the manufacturing of H-bombs; opinions of 1969; political preferences; predictions for 1990; predictions for the future; predictions of peace in 1990; Russian power in 1970; opinions of a three day work week; and travel involving passports. Basic demographic variables are also included.

This Gallup poll seeks the opinions of Canadians, on predominantly political and social issues. The questions ask opinions on affordability of Christmas given the economic recession, the environment, products that harm the environment, concern over various political, and social issues, abortion, the war in Iraq, and issues in Ontario. There are also questions on other topics of interest such as Brian Mulroney, Jean Chretien, Audrey McLaughlin, Meech Lake Accord, Canada's national anthem, the Citizen Forum, and questions related to political party preference. The respondents were also asked questions so that they could be grouped according to geographic, political and social variables. Topics of interest include: economic recession; environment; government; Brian Mulroney; Iraq war; Ontario issues; Citizen Forum; Canadian unity; abortion; and political party preference. Basic demographic variables are also included.

The gross domestic product (GDP) of all G7 countries decreased sharply in 2009 and 2020 due to the financial crisis and COVID-19 pandemic, respectively. The growth decline was heavier after the COVID-19 pandemic than the financial crisis. Moreover, Italy had a negative GDP growth rate in 2012 and 2013 following the euro crisis. In 2023, Germany experienced an economic recession.

While economic and population growth in Canada has led the country's manufacturing sector to flourish in recent years, rising import penetration has explicitly been challenging to ceramic manufacturers. Buyers have been importing more ceramic materials than they've bought domestically in recent years, straining the industry's ability to compete. The pandemic exacerbated a challenging operating environment, as disruptions to nearly every downstream market introduced unprecedented volatility. As manufacturing and industrial capacity recovered in 2021, supply chain disruptions and labour shortages limited growth. Manufacturers struggled to source raw materials inputs – a situation only worsened by Russia's invasion of Ukraine, a leading supplier of high-quality ceramic clay. Growth remains subdued as inflation, high interest rates, and recession concerns influence consumer spending and industrial output. Revenue is estimated to decline at a CAGR of 3.4% to $131.0 million through the end of 2024, with a forecast decline of 2.5% during the current year. Ceramics manufacturers continue navigating supply chain snags impacting production. An inability to source raw materials leaves manufacturers unable to fulfill orders, putting current revenue and future growth at risk. Russia's invasion of Ukraine hasn't boded well for ceramic producers, as price hikes for kaolin clay and gas worsened the outlook for manufacturers' production costs and profitability. No single solution exists to resolve supply chain disruptions, but some manufacturers are accelerating their adoption of automation and robotics or reconfiguring their supply chains. Strengthening conditions in manufacturers' downstream markets will support domestic ceramic production moving forward. A depreciating Canadian dollar could also sustain a higher volume of ceramic exports and lower the dependence on foreign substitutes. Still, the industry's trajectory will depend on if and when the Canadian economy enters a downturn. Prolonged high-interest rates and a recession would cause many consumers to rethink spending and industrial capacity to slow. Ceramics manufacturing revenue is expected to increase at a CAGR of 1.7% to $143.0 million through the end of 2029.

The COVID-19 pandemic, a global health crisis, was acutely felt in the labour market for many young workers. Importantly, precarious employment, identified as an emergent social determinant of health, may negatively affect the mental health and well-being of young workers. To this end, we engaged with young workers to understand their workplace needs and challenges in the COVID-19 era and hear their recommendations for action. Semi-structured interviews and a graphic recording focus group were conducted with 33 young workers aged 18–26 years old in Manitoba, Canada, who had worked a minimum of 30 hours per week prior to COVID-19 onset and were living independent of their parents. Analysis involved delineating units of meaning from the data, clustering these to form thematic statements and extracting themes. Second-level analysis involved applying themes and sub-themes to a social determinants of health framework. The multifaceted, compounding realities of young workers’ pre-COVID-19 employment situations were amplified by the COVID-19 pandemic, adversely impacting young worker’s mental health. Unique findings from this study highlight the generational differences in this cohort, who are opposed to participating in fragmented systemic structures (neoliberalism) and inequitable employment conditions, and who yearn for social inclusion and work-life balance. Their recommendations for government and employers call for permanent and stable employment opportunities, economic and mental health supports, and space to be heard and valued, as they navigate the many life course challenges as emerging adults. Societies are dependent on young workers to develop and support the Canadian economy for future generations. Thus, it is a critical that recommendations proposed by young workers in this study be acted upon and implemented to provide an equitable, stable, and supportive future for young workers in Canada and beyond.

The statistic shows the total population in Canada from 2019 to 2023, with projections up until 2029. In 2023, the total population in Canada amounted to about 39.97 million inhabitants. Population of Canada Canada ranks second among the largest countries in the world in terms of area size, right behind Russia, despite having a relatively low total population. The reason for this is that most of Canada remains uninhabited due to inhospitable conditions. Approximately 90 percent of all Canadians live within about 160 km of the U.S. border because of better living conditions and larger cities. On a year to year basis, Canada’s total population has continued to increase, although not dramatically. Population growth as of 2012 has amounted to its highest values in the past decade, reaching a peak in 2009, but was unstable and constantly fluctuating. Simultaneously, Canada’s fertility rate dropped slightly between 2009 and 2011, after experiencing a decade high birth rate in 2008. Standard of living in Canada has remained stable and has kept the country as one of the top 20 countries with the highest Human Development Index rating. The Human Development Index (HDI) measures quality of life based on several indicators, such as life expectancy at birth, literacy rate, education levels and gross national income per capita. Canada has a relatively high life expectancy compared to many other international countries, earning a spot in the top 20 countries and beating out countries such as the United States and the UK. From an economic standpoint, Canada has been slowly recovering from the 2008 financial crisis. Unemployment has gradually decreased, after reaching a decade high in 2009. Additionally, GDP has dramatically increased since 2009 and is expected to continue to increase for the next several years.

The industry has achieved a 3.5% CAGR during the current period, primarily due to strong expansion in 2021, though this was partly offset by declines in subsequent years. Growth in the Canadian economy, driven by government stimulus packages and a gradual recovery from the pandemic's effects, has boosted demand for steel and iron products. However, the increase in demand has been counterbalanced by falling steel prices, leading to a decline in industry revenue since 2022. The industry experienced a downturn in 2024 and is expected to continue on a downward path, with revenues projected to decrease by 5.7% to $16.0 billion in 2025. Structurally, the Canadian steel and iron industry is heavily influenced by global supply and demand, particularly changes in China's economy, which significantly affect steel prices. Canada's producers have endured compressed profits due to a declining global steel price environment and a substantial influx of Chinese steel imports. Domestic industry leaders are advocating for protective tariffs to shield Canadian producers from becoming a dumping ground for excess global capacity. Additionally, the threat of a 25% tariff from the US on Canadian imports poses a significant risk to exports, with potential repercussions for economic stability and industry profitability. As the industry navigates these challenges, a focus on operational efficiency and robust trade relations will be pivotal. Looking ahead, the outlook for Canadian steel and iron manufacturers presents both challenges and opportunities. The persistently weak demand for steel from China is expected to keep global prices low in the near term, contributing to a projected 0.6% CAGR decline in industry revenue leading up to 2030. However, growing domestic demand and government infrastructure investments may help mitigate some of these pressures, as an expected rise in Canada's GDP fosters demand for steel products. Furthermore, the expansion of Mexico's automotive sector is set to enhance the role of exports, opening up new market opportunities for Canadian producers. Ongoing investment in sustainable technology and initiatives targeting net-zero CO2 emissions by 2050 will be vital for maintaining the industry's competitiveness and aligning with global decarbonization efforts. Overall, the industry is projected to experience declines in the early part of the outlook period, with some growth anticipated later, leading to revenues of $15.5 billion by 2030.

This statistic shows the gross domestic product (GDP) in Italy from 1987 to 2023 with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2023, the GDP in Italy was about 2.26 trillion U.S. dollars. See global GDP for a global comparison.

Italy's economy

After increasing significantly year-over-year, Italy’s gross domestic product (GDP) has gone through several fluctuations since the global economic crisis in 2008. The European Union’s third largest economy has experienced downturns, primarily due to inefficiency with regards to spending and incompetent leadership.

When analyzing the country’s budget balance, which is essentially the overall difference between revenues and spending, Italy has posted a negative balance, or a state deficit, every year over the past decade. However, their budget balance has improved noticeably every year since 2009. Since the country spent more than they earned, national debt continued to rise every year, most notably between 2008 and 2009, and continued to do so going into 2014. Italy’s dependency on funding from other countries will lead to further debt, unless it finds a way to decrease spending or increase revenues.

Despite the country’s ongoing recession, Italy’s GDP ranked the country in the top 10 countries with the largest gross domestic product in 2014, ahead of economically developed countries such as Canada and Australia. This implies that Italy’s economical struggles are more a result of inefficient spending rather than a lack of production.