Issue 18-25: Gross Domestic Product (GDP)
January 31, 2018
Canadian real GDP by industry at basic prices (seasonally adjusted) advanced 0.4% in November, after stalling (+0.0%) in the previous month.
Goods-producing industries increased 0.8% led by manufacturing (+1.8%), utilities (+0.7%), and mining, quarrying & oil & gas extraction (+0.5%). The solid growth in the manufacturing sector was mainly due to a 6.5% increase in transportation equipment as motor vehicle manufacturing (+14.3%) rebounded in November following production shutdowns in some assembly plants in September and October.
Service-producing industries expanded 0.3%, with most sectors posting gains in November. GDP in arts, entertainment & recreation jumped 1.1%, while retail (+0.6%) and wholesale (+0.5%) trade made solid gains for a second straight month. Real estate & rental & leasing was up 0.4%. Administrative & support, waste management & remediation services (-0.4%) was the only service industry to see a decline in November, as real GDP fell for a fourth consecutive month.
Source: Statistics Canada