Issue 18-80 Gross Domestic Product (GDP)

May 1, 2018

Canadian real GDP by industry at basic prices rose 0.4% in February, following a 0.1% drop in the previous month.

The goods-producing industries expanded 1.2% as mining and oil and gas extraction rebounded (+2.4%), reversing most of the prior month’s maintenance-driven decline. In addition, GDP in manufacturing (+1.0%), construction (+0.7) and agriculture, forestry, fishing & hunting (+0.5%) were all up in February while utilities (-0.9%) was down due to unseasonably warm weather in central and eastern Canada.

GDP growth in services-producing industries was more moderate (+0.1%) but broadly based, with 11 of 15 sectors expanding. Arts, entertainment & recreation (+1.4%), professional, scientific & technical services (+0.6%), transportation & warehousing (+0.5%), finance & insurance (+0.4%), information & cultural industries (+0.4%), and retail trade (+0.3%) posted the strongest growth. These gains were partly offset by declines in wholesale trade (-0.5%), other services (except public administration) (-0.4%) and real estate & rental & leasing (-0.2%).

Source: Statistics Canada