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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

December 23, 2022

Month-over-month (October 2022 vs September 2022)

Real Gross Domestic Product (GDP) in Canada edged up slightly (+0.1%) to an annualized value of $2,074 billion (chained 2012 dollars at basic prices) in October 2022. This was the seventh consecutive month of growth ranging between 0.1% and 0.3%.     




Canada's goods-producing sector output declined 0.7% from September to October 2022 with declines particularly concentrated in mining, oil and gas (-1.6%), utilities (-1.3%), manufacturing (-0.7%) and slightly down in construction (-0.03%). Real GDP from Canada's agriculture/forestry/fishing industry was up.

Real GDP in Canada's services-producing industries was up 0.3% from September to October. Arts/entertainment/recreation real GDP was up 2.2% as well as accommodation/food services (+1.0%) and wholesale trade (+1.3%). Transportation/warehousing increased 0.8% as well as public administration (+0.6%) and professional/technical (+0.5%). Real GDP was down for company management (-3.8%), and information and culture (-0.2%). Real GDP was also down for finance and insurance (-0.1%), retail (-0.1%) and administration and support services (-0.1%).


Year-to-Date (January-October 2022 vs January-October 2021)

The Canadian economy was 4.0% larger in the first ten 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 4.1% with year-to-date gains in all industries except management of companies (-24.7%). The strongest increases were in arts/entertainment/recreation (+43.2%) as well as accommodation and food services (+26.7%). There were notable increases in personal/repair services (+9.8%), transportation/warehousing (+9.5%), professional/technical services (+7.7%), as well as information/cultural industries (+4.7%).




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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