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July 28, 2023CANADA GDP BY INDUSTRY, MAY 2023 Month-over-month (May 2023 vs April 2023)
Real Gross Domestic Product (GDP) in Canada increased 0.3% in May 2023 and at an annualized value of $2,091 billion (chained 2012 dollars at basic prices), following a 0.1% growth in April. Services producing industries increased 0.5% in May while goods producing industries declined 0.3%.
Canada's goods-producing sector output declined 0.3% from April to May 2023. Gains in utilities (+0.1%) and manufacturing (+1.6%) were offset by declines in agriculture, forestry, and fishing (-1.1%), mining, oil and gas (-2.9%), and construction (-0.8%).
Real GDP in Canada's services-producing industries was up 0.5% from April to May 2023.
Eleven sub-sectors recorded growth in May. The largest gains were recorded in wholesale (+2.9%), arts and recreation (+1.4%), and public administration (+1.4%). The largest declines were recorded in managent of companies (-3.0%), and accomodation and food services (-1.1%).
Year-to-Date (January-May 2023 vs January-May 2022)
The Canadian economy was 2.2% larger in the first five months of 2023 when compared to the same period in 2022.
Real GDP from goods producing industries was up 0.9% with faster gains in natural resources industries.
Real GDP from services-producing industries was up 2.7% with year-to-date gains in most industries. The strongest increases were in arts/entertainment/recreation (+20.2%) as well as accommodation and food services (+12.5%). The largest decline was reported in management of companies (-31.0%).
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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