Issue 19-172 Gross Domestic Product

October 31, 2019

Canada’s economy expanded slightly in August, with real GDP inching up 0.1% (seasonally adjusted) from the previous month.

The goods sector posted a modest 0.2% increase as GDP in manufacturing rebounded (+0.5%), and agriculture, forestry, fishing and hunting (+0.4%), construction (+0.3%) and mining, quarrying, and oil and gas extraction (+0.1%) also increased.

Meanwhile, the service sector edged up 0.1%, as robust activity in several industries, including professional, scientific and technical services (+0.7%) and finance and insurance (+0.5%), was nearly offset by a hefty decline in wholesale trade (-1.3%).

Data Source: Statistics Canada