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September 29, 2022CANADA GDP BY INDUSTRY, JULY 2022 Month-over-month (July 2022 vs June 2022)
Real Gross Domestic Product (GDP) in Canada edged up slightly (+0.1%) to an annualized value of $2,056 billion (chained 2012 dollars at basic prices) in July 2022. This follows 0.1% growth in June.
Canada's goods-producing sector output increased 0.5% from July to June 2022 with declines particularly concentrated in manufacturing (-0.5%) and construction (-0.2%). Agricultural real GDP was up 3.2%; mining, oil and gas were up 1.9%; utilities were up 1.6%.
Real GDP in Canada's services-producing industries was down 0.1% from June to July. Arts, entertainment-recreation real GDP was up 0.6%, Other services (personal, repair) was up 0.1%; Accommodation and food services industries' real GDP decreased 1.0% in July after a five-month growth period; and Education was up 0.8%. Management of companies and Retail were down 1.9%; Finance and insurance did not change; and Wholesale was down a further 0.7%. Retail trade declined 1.9% to lowest level this year with widspread declines including gasoline stations, despite falling prices and at food and beverage store.
Year-to-Date (January-July 2022 vs January-July 2021)
The Canadian economy was 4.4% larger in the first seven months of 2022 when compared to the same period in 2021.
Real GDP from goods producing industries was up 3.4%
Real GDP from services-producing industries was up 4.7% with year-to-date gains in all industries except Management of companies (-31.2%). The strongest increases were in arts, entertainment and recreation (+56.6%) as well as accommodation and food services (+34.6%). There were notable increases in personal and repair services (+10.3%), transportation and warehousing (+10.2%), professional and technical services (+7.8%), as well as information and cultural industries (+6.5%) .
August 2022 Advance Estimates
"Advance information indicates that real GDP was essentially unchanged in August. Output was down in the manufacturing, wholesale, retail trade and accommodation in food services. Declines were partly offset by increases in the mining, quarrying, oil and gas sector and the agriculture sector. Owing to its preliminary nature, this estimate will be updated on October 28 with the release of the official GDP data for August." STC. Daily
Source: Statistics Canada, Table 36-10-0434-01 Gross domestic product (GDP) at basic prices, by industry, monthly (x 1,000,000)