Issue 17-178 Gross Domestic Product (GDP)

December 22, 2017

The Canadian economy stalled in October, with real GDP by industry at basic prices unchanged (seasonally adjusted) in October following a slight increase (+0.2%) in September. 

The service-producing industries grew 0.2%, mainly due to increases in wholesale trade (+1.4%), retail trade (+1.1%) and real estate (+0.3%). However, finance and insurance (-0.2%) declined for the fourth consecutive month.

Goods-producing industries declined 0.4%, driven by the decline in the mining, quarrying, and oil and gas extraction sector (-1.1%) and to a lesser extent utilities (1.3%). Agriculture, forestry, fishing and hunting was down (-0.6%) for the ninth time in twelve months.

Source: Statistics Canada