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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

July 31, 2024
CANADA GDP BY INDUSTRY, MAY 2024

Month-over-month (May 2024 vs May 2024)

Real Gross Domestic Product (GDP) in Canada was up 0.2% in May following 0.3% growth in April 2024. 

Real GDP in Canada's goods producing industries was up 0.4% from April to May 2024.  

Real GDP in Canada's services-producing industries was up 0.1% from April to May 2024.

In May 2024, most industries have grown from the previous month. Among broad industries, monthly GDP gains were strongest for agriculture/forestry/fishing, manufacturing, and accomodation/food services. The only declines were reported for mining/oil/gas, wholesale, retail, management of companies, and administrative/business support services (including call centres).  

Year-to-date (January-May 2024 vs January-May 2023)

The Canadian economy was 0.9% larger in January-May 2024 when compared to the same period of 2023.

Real GDP from goods producing industries was down 1.1% with losses across all industries except mining/oil/gas (+4.1%).

Real GDP from services-producing industries was up 1.6% with gains in most industries. The year-to-date real GDP declines were in company management (-32.8%, though this is a small industry), arts/recreation (-0.5%), information/culture (-0.6%), and administrative/support/call centres (-0.5%). The strongest increases were in transportation/warehousing (+3.5%), health/social assistance (+2.7%), and public administration (+2.3%).

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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