Issue 18-170 Gross Domestic Product
September 28, 2018
The Canadian economy advanced 0.2% (seasonally adjusted) in July, following a flat reading (+0.0%) the prior month.
Gross domestic product (GDP) in goods-producing industries expanded 0.3%. The growth was attributed to a 1.2% rise in manufacturing and a 2.1% rise in utilities given a record-breaking heatwave in many parts of the country. At the same time, GDP in agriculture, forestry, fishing & hunting (-0.8%), construction (-0.6%) and mining, quarrying, and oil & gas extraction (-0.3%) contracted. The 0.3% decline in mining, quarrying, and oil & gas extraction was mainly due to a 3.2% drop in non-conventional oil production (i.e., oilsands output).
Services-producing industries grew 0.2%, with modest growth in most industries. Wholesale trade (+1.4%) and transportation & warehousing (+0.9%) had strong month, while arts, entertainment & recreation (-1.9%), finance & insurance (-0.3%) and retail trade (-0.1%) were down in July.
Source: Statistics Canada