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February 29, 2024CANADA GDP BY INDUSTRY, DECEMBER AND ANNUAL 2023 
Month-over-month (December 2023 vs November 2023)
Real Gross Domestic Product (GDP) in Canada edged down 0.02% in December 2023. Goods-producing industries contracted 0.2% in December while service-producing industries were up 0.05%.
Two of the five goods-producing industries grew in December 2023: agriculture, forestry, fishing (+2.6%) as well as mining, oil and gas (+1.5%). Real GDP from utilities declined 3.6%, as did real GDP from construction (-0.6%) and manuacturing (-0.4%).
Real GDP in Canada's services-producing industries edged up (+0.05%) from November to December 2023. Most sub-sectors reported gains, with the largest real GDP growth in finance/insurance (+0.8%), retail (+0.7%), Real estate (+0.6) and wholesale trade (+0.5%). Only three sub-sectors reported declines: health care and social assistance (-0.2%), management of companies (-1.4%) and education (-3.8% - a notable monthly decline).
Annual 2023 vs 2022
The Canadian economy was 1.2% larger in 2023 when compared to the same period in 2022.
Real GDP from goods producing industries was down 1.2% with faster losses in agriculture, forestry and fishing (-4.5%).
Real GDP from services-producing industries was up 2.1% with gains in most industries. The strongest increases were in arts/recreation (+12.9%) as well as transporation/warehousing (+6.0%). The largest decline was reported in management of companies (-32.1%, though this is a small industry).
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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