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October 31, 2022CANADA GDP BY INDUSTRY, AUGUST 2022 Month-over-month (August 2022 vs July 2022)
Real Gross Domestic Product (GDP) in Canada edged up slightly (+0.1%) to an annualized value of $2,061 billion (chained 2012 dollars at basic prices) in August 2022. This was the fifth consecutive month of growth ranging between 0.1% and 0.2%.
Canada's goods-producing sector output contracted 0.3% from July to August 2022 with declines particularly concentrated in mining/oil/gas (-1.0%) as well as manufacturing (-0.8%) and construction (-0.7%). Real GDP from Canada's agriculture/forestry/fishing and utilities industries was up.
Real GDP in Canada's services-producing industries was up 0.3% from July to August. Arts, entertainment-recreation real GDP was up 1.5% while retail trade real GDP increased by 1.2% and wholesale trade real GDP expanded by 0.9%. Real GDP was down for transportation/warehousing (-0.5%) and company management (-2.2%).
Year-to-Date (January-August 2022 vs January-August 2021)
The Canadian economy was 4.3% larger in the first eight months of 2022 when compared to the same period in 2021.
Real GDP from goods producing industries was up 3.7% with faster gains in natural resources industries.
Real GDP from services-producing industries was up 4.6% with year-to-date gains in all industries except management of companies (-31.2%). The strongest increases were in arts/entertainment/recreation (+54.0%) as well as accommodation and food services (+31.0%). There were notable increases in personal/repair services (+10.3%), transportation/warehousing (+9.9%), professional/technical services (+7.7%), as well as information/cultural industries (+6.2%) .
September 2022 Advance Estimates
"Advance information indicates that real GDP increased 0.1% in September. Increases in the oil and gas extraction subsector, the manufacturing sector and the public sector were partially offset by declines in construction. Advance information for the third quarter indicates that real GDP increased 0.4%. Owing to their preliminary nature, these estimates will be updated on November 29 with the release of the official GDP data for September and the third quarter."
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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