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July 31, 2025CANADA GDP BY INDUSTRY, MAY 2025 Month-over-month (May vs April 2025)
Real Gross Domestic Product (GDP) in Canada decreased 0.1% in May 2025 following a similar decline in revised results for April 2025.
Real GDP in Canada's goods producing industries decreased 0.1% from April to May 2025.
Real GDP in Canada's services-producing industries edged down 0.04% from April to May 2025.
In May 2025, 7 of Canada's 20 key industry sub-sectors reported higher real GDP compared to the previous month. Among broad industries, the largest real GDP gains were reported for manufacturing (owing to inventory accumulation), accommodation/food services and transportation/warehousing (notably rail and pipelines). Real estate real GDP was up on higher activity from real estate agents in resale markets while arts/entertainment GDP grew as three Canadian NHL teams remained in the playoffs for the second round.
Monthly GDP declines were fastest for management of companies, retail trade and natural resources (agriculture, forestry, fishing, mining, oil/gas). Public administration real GDP was also down following April's increased activity for the Federal election.
Year-to-date (January-May 2025 vs January-May 2024)
The Canadian economy was 1.7% larger in January-May 2025 when compared to the same months in 2024.
Real GDP from goods producing industries grew 1.4% as growth in utilities, mining/oil/gas, agriculture/forestry/fishing and construction more than offset the decline in manufacturing.
Real GDP from services-producing industries was up 1.8% with gains in most industries. The strongest gains were in finance/insurance, arts/recreation and retail trade. The steepest decline was in company management (though this is a small industry).
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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