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

September 01, 2023


Month-over-month (June 2023 vs May 2023)

Real Gross Domestic Product (GDP) in Canada decreased 0.2% in June 2023 and at an annualized value of $2,081 billion (chained 2012 dollars at basic prices), following a 0.2% growth in May. Service-producing industries decreased 0.2% in June while goods-producing industries declined 0.4%.             

Most goods-producing industries declined in June 2023. A small gain in manufacturing (+0.003%) was offset by declines in utilities (-1.1%), agriculture, forestry, and fishing (-0.9%), construction (-0.6%), and mining, oil and gas (-0.3%). 

Real GDP in Canada's services-producing industries was down 0.2% from May to June 2023. 

Seven sub-sectors recorded growth in June. The largest gains were recorded in public administration (+0.35%), and real estate, and leasing (+0.32%). The largest declines were recorded in management of companies (-3.2%) and wholesale (-3.0%).


Year-to-Date (January-June 2023 vs January-June 2022)

The Canadian economy was 2.0% larger in the first six months of 2023 when compared to the same period in 2022. 

Real GDP from goods producing industries was up 0.4% with faster gains in natural resources industries.  

Real GDP from services-producing industries was up 2.5% with year-to-date gains in most industries. The strongest increases were in arts/entertainment/recreation (+16.7%) as well as accommodation and food services (+10.6%). The largest decline was reported in management of companies (-30.7%).

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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