Issue 17-84: Gross National Product (GDP)
July 28, 2017
Canadian real GDP by industry at basic prices (seasonally adjusted) advanced 0.6% in May, the seventh consecutive monthly increase in GDP.
The goods-producing industries rose 1.6% in May, led by mining, quarrying, & oil & gas extraction (+4.6%). More specifically, the oil and gas extraction sector advanced 7.6%, with non-conventional oil extraction up 13.0% and conventional oil & gas extraction up 3.2%. An oil sands upgrader facility in Alberta resumed production after a temporary shutdown due to a fire and explosion in March. A year ago, this sector was impacted by the Fort McMurray wildfire, which caused widespread shutdowns of oil sand production facilities.
Manufacturing was up 1.1% while construction was down 0.6% as Quebec workers went on strike in the last week of May.
The service-producing industries expanded 0.2%. Solid gains in finance & insurance (+0.9%), retail (+0.9%) and wholesale trade (+0.7%) offset declines in arts, entertainment & recreation (-3.5%), accommodation & food services (-0.3%) and real estate & rental & leasing (-0.2%).
Source: Statistics Canada