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May 31, 2018CANADA GDP BY INDUSTRY, MARCH 2018 Real GDP in Canada increased 0.3 per cent in March 2018 compared to February 2018, after an increase of 0.4 per cent in February.
The output of the goods-producing industries increased 0.6 per cent in March. Mining, quarrying and oil and gas extraction was up 1.9 per cent as all subsectors grew. Non-conventional oil extraction grew 3.1 per cent as the extraction of crude bitumen in Alberta reached a record high of 8.9 billion cubic metres. Conventional oil and gas extraction increased 1.3 per cent as growth in natural gas offset a decline in conventional crude petroleum extraction. Mining (excluding oil and gas) grew for the second month in a row after four months of decline with increases in potash, iron ore, gold/silver ore offsetting declines in copper, nickel, lead and zinc mining, and other metal ore mining. Manufacturing edged up 0.1 per cent in March with an increase in non-durable manufacturing, led by plastic and rubber manufacturing, partially offset by a 0.1 per cent decline in durable manufacturing. Construction activity was down 0.1 per cent in March, with 0.6 per cent growth in non-residential and 0.4 per cent growth in engineering and other construction activities offset by declines in residential (-0.7 per cent) and repair (-0.3 per cent) construction.
Service-producing industries output increased 0.2 per cent in March. Finance and insurance declined 1.2 per cent - the largest monthly decline since November 2008 - due to an atypical decline in stock market trading activity in March. Real estate and rental and leasing increased 0.1 per cent following two months of decline, as activity as the offices of real estate agents and brokers declined for the third month in a row following new mortgage lending rules implemented in January 2018. Wholesale trade increased 0.8 per cent while retail growth was up 0.6 per cent. Transportation and warehousing increased 0.8 per cent in March due to higher pipeline transportation of natural gas and crude oil.
The public sector grew 0.2 per cent in March with growth in education, health care and public administration.
GDP was 2.8 per cent higher in the first three months of 2018 (January to March) than the same period in 2017. Year-to-date growth was 3.9 per cent in the goods-producing sector and 2.4 per cent in the service-producing sector.
Statistics Canada: CANSIM table 379-0031
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