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March 29, 2018CANADA GDP BY INDUSTRY, JANUARY 2018 Real GDP in Canada decreased 0.1 per cent in January 2018 compared to December 2017, after growth of 0.2 per cent in December.
The output of the goods-producing industries declined 0.4 per cent in January. Mining, quarrying and oil and gas extraction was down 2.7 per cent due to unscheduled maintenance shutdowns in the non-conventional oil extraction subsector and the third consecutive month of lower conventional oil and gas extraction. Manufacturing was up 0.7 per cent on higher non-durable manufacturing while durable manufacturing was essentially unchanged. Construction activity increased 0.5 per cent with higher residential activity in apartment-type dwellings and home improvement and non-residential construction increasing for the eighth month in a row.
Service-producing industries output was essentially unchanged in January, making it the weakest month since March 2016. Wholesale and retail trade were up in January. Real estate and rental and leasing declined 0.5 per cent in January after six consecutive months of growth as offices of real estate agents and brokers fell by 12.8 per cent with new mortgage lending rules and stress-testing for uninsured mortgages taking effect. Lower real estate activity also contributed to a decline in the professional, scientific and technical services sector (-0.1%) from lower legal, accounting and related services. Transportation and warehousing was down 0.2 per cent on lower rail movement of petroleum, chemicals, metals, minerals and forest products in addition to a decline in pipeline transportation. Finance and insurance was up 0.3 per cent.
The public sector grew 0.1 per cent in January as educational services and healthcare and social assistance edged up.
GDP was 2.7 per cent higher in January 2018 than January 2017. Growth over the year in goods-producing industries was 2.9 per cent with the strongest growth in utilities, construction, and manufacturing. Services-producing industry GDP is 2.6 per cent higher with all subsectors, except information/cultural; management of companies; and administrative and support services, reporting higher levels of activity.
Statistics Canada: CANSIM table 379-0031
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