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December 23, 2024CANADA GDP BY INDUSTRY, OCTOBER 2024 Month-over-month (October 2024 vs September 2024)
Real Gross Domestic Product (GDP) in Canada grew 0.3% in October following revised growth of 0.2% in September 2024.
Real GDP in Canada's goods producing industries rose 0.9% from September to October 2024.
Real GDP in Canada's services-producing industries were up 0.1% from September to October 2024.
In October 2024, 13 industries reported higher real GDP compared to the previous month. Among broad industries, monthly GDP gains were strongest for mining/oil and gas (following maintenance in August and September), accommodation/food services, wholesale trade, and real estate/rental/leasing. The largest declines were reported for management of companies and information/cultural services.
Year-to-date (January-October 2024 vs January-October 2023)
The Canadian economy was 1.4% larger in January-October 2024 when compared to the same period of 2023.
Real GDP from goods producing industries was down 0.1% while there were gains in resource industries. Both construction (-1.3%) and manufacturing (-3.2%) reported notable declines in real GDP.
Real GDP from services-producing industries was up 1.9% with gains in most industries. The year-to-date real GDP declines were in company management (-32.4%, though this is a small industry) and administrative/support/call centres (-0.5%). The strongest increases were in transportation/warehousing (+3.5%), health/social assistance (+3.0%), finance/insurance (+2.5%) and public administration (+2.4%).
Source: Statistics Canada, Table 36-10-0434-01 Gross domestic product (GDP) at basic prices, by industry, monthly (x 1,000,000)
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