Issue 18-98 Gross Domestic Product

May 31, 2018

Canadian real GDP by industry at basic prices advanced 0.3% in March, following a 0.4% increase in the previous month.

The goods-producing industries expanded 0.6%, led by another month of solid growth in mining, quarrying, and oil and gas extraction (+1.9%), together with a 0.6% advance in utilities. Manufacturing (+0.1%) and agriculture, forestry, fishing & hunting (+0.1%) inched ahead, while GDP in construction dipped (-0.1%) as declines in residential (-0.7%) and repair (-0.3%) construction offset growth in engineering & other construction activities (+0.4%) and non-residential construction (+0.6%).

The services-producing industries were up (+0.2%), with 10 of 15 sectors expanding. Transportation & warehousing (+0.8%), wholesale (+0.8%) and retail (+0.6%) trade, accommodation & food services (+0.5%), professional, scientific & technical services (+0.4%), and health care & social assistance (+0.3%) posted solid gains. These were partly offset by declines in finance & insurance (-1.2%), arts, entertainment & recreation (-0.2%) and information & cultural industries (-0.1%). The downturn in the finance and insurance sector, which was attributed to weak stock market trading, was the largest monthly decrease since November 2008.

Source: Statistics Canada