Issue 16-88: Gross Domestic Product (GDP)

May 2, 2016

Canadian real GDP by industry at basic prices (seasonally adjusted) contracted 0.1% in February, ending a four-month upturn.

Compared with an increase of 0.9% in January, the goods-producing industries edged down 0.6% in February, largely due to decreases in manufacturing (-0.8%) and mining, quarrying and oil and gas extraction (-0.8%). Construction (+0.1%) inched up, while agriculture, forestry, fishing and hunting (-1.3%) and utilities (-0.2%) declined.

The service-producing industries were essentially unchanged in February after four consecutive monthly increases. Gains in retail trade (+1.4%), accommodation and food services (+0.7%) and real estate and rental and leasing (+0.3%) were dampened by a notable decline in wholesale trade (-1.8%).

Data Source: Statistics Canada