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February 28, 2023CANADA GDP BY INDUSTRY, DECEMBER AND ANNUAL 2022 Month-over-month (December 2022 vs November 2022)
Real Gross Domestic Product (GDP) in Canada edged down slightly (-0.1%) to an annualized value of $2,069 billion (chained 2012 dollars at basic prices) in December 2022. This was the first month of negative growth after eight consecutive months of growth ranging between 0.1% and 0.3%.
Canada's goods-producing sector output declined 0.6% from November to December 2022 with declines particularly concentrated in mining, oil and gas (-4.0%), , and agriculture, forestry, and fishing (-0.3%). Posiitive sectors werre utilities (+0.5%), manufacturing (+0.4%), and construction (+0.4).
Real GDP in Canada's services-producing industries was static at 0.0% from November to December.
Sectors that increased were retail (+0.8%), professional/technical sector (+0.6%), education (+0.4%), healthcare/social assistance (+0.4%), public administration (+0.3%), accommodations/food services (+0.2%), real estate/leasing (+0.1%), administration/support services (+0.1%), and other services (+0.1%).
Sectors that declined were information/culture (-0.4%), finance and insurance (-0.4%), finance/insurance (-0.4%), arts and recreation (-0.4%), transportation/warehousing (-1.0%), wholesale (-1.3%), and management of companies (-2.2%),
ANNUAL (2022 vs 2021)
The Canadian economy was 3.6% larger in 2022 when compared to 2021.
Real GDP from goods producing industries was up 3.2% with faster gains in natural resources industries.
Real GDP from services-producing industries was up 3.8% with annual gains in all industries except management of companies (-25.4%). The strongest increases were in arts/entertainment/recreation (+38.3%) as well as accommodation and food services (+23.3%). There were notable increases in personal/repair services (+9.6%), transportation/warehousing (+9.1%), professional/technical services (+7.3%), administration/support services (+4.1%) as well as information/cultural industries (+4.0%).
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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