Issue 20-34: Gross Domestic Product

February 28, 2020

Canadian real gross domestic product (GDP) by industry at basic prices (seasonally adjusted) expanded (+0.3%) in December, building on a slight (+0.1%) increase recorded in November.

Goods-producing industries were up 0.3% in December, as a decline in the utilities (-0.5%) sector was more than offset by gains in mining, quarrying and oil and gas extraction (+1.3%), manufacturing (+0.4%) and construction (+0.2%).

Service-producing industries also increased 0.3%, led by growth in transportation and warehousing (+1.5%), arts, entertainment and recreation (+1.2%), wholesale trade (+0.8%) and finance and insurance (+0.7%).

Annual, 2019

During 2019, the Canadian economy expanded 1.6%. While the value-added of services-producing industries climbed 2.5%, goods-producing industries saw a 0.9% decline.

Mining, quarrying and oil and gas extraction (-5.1%) was the largest contributor to the decline among goods-producing industries.

Meanwhile, increases among services-producing industries was widespread in 2019, led in part by real estate and rental and leasing (+2.6%), health care and social assistance (+3.3%) and professional, scientific and technical services (+4.5%).

Source: Statistics Canada