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January 31, 2019CANADA GDP BY INDUSTRY, NOVEMBER 2018 Real GDP in Canada decreased 0.1 per cent in November, partially offsetting gains from October. In November declines in wholesale, finance and insurance, manufacturing and construction offset the gains of the 13 of 20 industrial sectors that grew. Compared to November 2017, the Canadian economy is 1.7 per cent larger with an annualized value of $1,944 billion (chained 2012 dollars).
The output of the goods-producing industries was down 0.3 per cent in November and has declined in three of the last four months. Manufacturing (-0.5%) contracted for the third time in the past four months with lower activity in petroleum and coal product manufacturing due to maintenance work and lower production volumes. Transportation equipment fell due to atypical retooling and production schedules at some plants. Construction activity declined for the sixth consecutive month in November. Residential construction was down 1.0 per cent with continued declines in singles, semi-detached and home alterations. Non-residential construction declined with declines in public and other non-residential construction offsetting growth in industrial and commercial construction. Mining excluding oil and gas extraction increased to partially offset the decline from October, activity was up in potash mining and copper, nickel, lead and zinc mining.
Service-producing industries output was essentially unchanged in November. Wholesale trade decreased by 1.1 per cent with declines in machinery equipment and supplies, building material and supplies, and paper and other miscellaneous products. Finance and insurance declined in November with less activity on bond and equity markets contributing to decreases in financial investment services and depository credit intermediation. Transportation and warehousing activity was lower due to rotating strikes at Canada post and lower truck transportation in the month. Retail trade continued its recent weakness with declines in motor vehicle and parts dealers, fuel dealers, and building materials offsetting more positive activity associated with Black Friday/Cyber Monday shopping at general merchandise stores, electronic and appliances, clothing and online shopping. Service activity was up for accommodation and food services, professional services and the public sector to offset the declines in the service sector.
Canada's real GDP was 2.3 per cent higher in January-November 2018 than in the same period last year. Year-to-date growth was 2.2 per cent in the goods-producing sector, with mining, quarrying, and oil and gas extraction reporting the strongest growth (+3.9 per cent). Services are up 2.2 per cent compared to January-November 2017, with the strongest growth in professional, scientific and technical services (+4.3 per cent), and health care and social assistance (+3.5 per cent). For the first eleven months of 2018, lower activity occurred in agriculture, forestry, fishing and hunting (-0.3 per cent), information and culture (-0.2 per cent) and management of companies and enterprises (-1.7 per cent).
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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