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January 31, 2017CANADA GDP BY INDUSTRY, NOVEMBER 2016 Real GDP in Canada increased 0.4 per cent in November following a decrease of 0.2 per cent (revised) in October. GDP increased in five of the last six months. The increase in November came mainly from higher output in manufacturing, mining, quarrying, and oil and gas extraction, finance and insurance and construction.
Output of goods-producing industries increased 0.9 per cent per cent in November following a 1.0 per cent decrease in October. Among goods-producing industries, GDP increased in Manufacturing, Construction and Mining, quarrying, and oil and gas extraction. GDP declined in Utilities and Agriculture, forestry, fishing and hunting.
Manufacturing grew 1.4% in November following a 1.7% decline in October. Except for October, output in the manufacturing sector has risen every month since June.
Following declines in the first half of 2016 related to maintenance shutdowns and the Fort McMurray wildfire and evacuation, the output of the mining, quarrying, oil and gas sector grew in June, July, August and September, followed by a slight decline in October of 0.5 per cent. In November, output in the sector increased 1.4 per cent as non-conventional oil extraction grew 3.7 per cent due to increased production capacity.
GDP in utilities declined 3.0 per cent in November, and had the largest negative impact on Real GDP in November related to unseasonably warm weather across the western part of the country.
GDP in service-producing industries increased 0.2 per cent in November. The largest growth in November was in the Finance and insurance sector which increased 1.5 per cent, this was the largest increase in this sector since December 2014.
Comparing the first eleven months of 2016 (January through November) with the same period 2015, the Canadian economy is 1.1 per cent larger this year than last.
Goods production is down 1.2 per cent with declines in construction (-3.4 per cent), mining, quarrying and gas extraction (-2.8 per cent) partly offset by higher GDP in agriculture, forestry, fishing (+3.1 per cent), manufacturing (+0.5 per cent) and utilities (1.2 per cent).
GDP for service-producing industries is up 2.0 per cent on increases in most subsectors except for declines in others services (-1.3 per cent), management of companies and enterprises (-2.3 per cent), and administrative and support, waste management and remediation services sector (-0.2 per cent).
Statistics Canada: CANSIM table 379-0031
Statistics Canada Note: With this release of monthly GDP by industry, revisions have been made back to January 2016.
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