Issue 19-157 Gross Domestic Product

October 1, 2019

Canadian real gross domestic product was flat in July (technically, it was +0.02% seasonally adjusted) following four consecutive monthly growth.

GDP in goods-producing industries were down 0.7%, mainly due to a 4.7% decline in oil and gas extraction (except oil sands) as some maintenance in Newfoundland and Labrador’s offshore production facilities weighed on output. Except for utilities (+1.5%), mining, quarrying, and oil & gas extraction (-3.5%), construction (-0.7%), agriculture, forestry, fishing & hunting (-0.2%) and manufacturing (-0.1%) all contracted in July.

Services-producing industries continued to expand (+0.3%) as most subsectors advanced in July, marking a fifth consecutive month of growth. GDP in wholesale trade (+1.1%), professional, scientific & technical services (+0.8%), administrative & support (+0.5), real estate & rental & leasing (+0.4%), finance & insurance (+0.3%), health care & social assistance (+0.3), educational services (+0.3), public administration (+0.2%) and retail trade (+0.1%) were up, while arts, entertainment & recreation (-0.6%), transportation & warehousing (-0.5%) and information & cultural industries (-0.3%) were down.

Source: Statistics Canada