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January 31, 2023CANADA GDP BY INDUSTRY, NOVEMBER 2022 Month-over-month (November 2022 vs October 2022)
Real Gross Domestic Product (GDP) in Canada edged up slightly (+0.1%) to an annualized value of $2,077 billion (chained 2012 dollars at basic prices) in November 2022. This was the eighth consecutive month of growth ranging between 0.1% and 0.3%.
Canada's goods-producing sector output declined 0.1% from October to November 2022 with declines particularly concentrated in agriculture, forestry, and fishing(-0.1%), manufacturing (-0.1%), and construction (-0.7). Real GDP from Canada's utilities and mining/oil/gas industries was up.
Real GDP in Canada's services-producing industries was up 0.2% from October to November. Transportation/warehousing increased by 1.0%, arts and recreation increased by 0.6% and finance and insurance increased by 0.5%, same as public administration. Administration/support services went up by 0.3%, healthcare/social assistance went up by 0.2% as well as professional/technical sector. Wholesale went up by 0.2% and other services went up by 0.1%. Education, real estate/leasing, and information/culture did not see any change. Management of companies declined 2.3%, accomondations/food services declined 1.4% and retail declined 0.6%.
Year-to-Date (January-November 2022 vs January-November 2021)
The Canadian economy was 3.9% larger in the first eleven months of 2022 when compared to the same period in 2021.
Real GDP from goods producing industries was up 3.8% with faster gains in natural resources industries.
Real GDP from services-producing industries was up 3.9% with year-to-date gains in all industries except management of companies (-25.1%). The strongest increases were in arts/entertainment/recreation (+40.4%) as well as accommodation and food services (+24.9%). There were notable increases in personal/repair services (+9.7%), transportation/warehousing (+9.3%), professional/technical services (+7.5%), as well as information/cultural industries (+4.4%).
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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