Issue 18-133 Gross Domestic Product
July 31, 2018
The Canadian economy continued to expand in May, with real GDP advancing 0.5% (seasonally adjusted) following a 0.1% gain in the prior month. The increase was widespread and reasonably distributed among a variety of sectors as only 1 of 20 industrial sectors reported a decline.
GDP in goods-producing industries was up 0.6%. Mining, quarrying, and oil & gas extraction (+1.8%), agriculture, forestry, fishing & hunting (+0.9%), construction (+0.7%) and manufacturing (+0.1%) all registered growth. The utilities sector was the only sector that contracted (-2.4%) in May as warmer weather returned across Canada.
Services-producing industries rose 0.5%, led by arts, entertainment & recreation (+2.8%), retail (+2.0%) and wholesale trade (+1.4%). Accommodation & food services (+0.9%), professional, scientific & technical services (+0.5%), finance & insurance (+0.4%), transportation & warehousing (+0.4%) and other services (except public administration) (+0.4%) also made solid gains in May.
Source: Statistics Canada