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October 31, 2014GDP BY INDUSTRY AUGUST 2014 Canada's real GDP dipped 0.1 per cent for the month of August 2014 to a seasonally-adjusted annual rate of $1.63 trillion dollars (chained (2007) dollars at basic prices). The previous seven months all had positive growth including 0.5 per cent in May and 0.3 per cent in June. Goods production fell 1.0% in August as most major subsectors registered declines, led by oil and gas extraction and manufacturing. Utilities increased in August. In the services sector, there were notable gains in the public sector, wholesale trade, and finance and insurance.
Manufacturing output decreased 1.2 per cent in the month as durable goods declined as a results of transportation and equipment manufacturing (motor vehicle parts and misc. transportation equipment manufacturing). Non-durables also fell, notably in plastics and rubber, food, textile clothing and leather manufacturing, as well as printing and related support activities.
Finance and Insurance were up in August by 0.3 per cent, as banking and financial investment increased while insurance services declined.
Compared to the same month last year, real GDP was 2.2 per cent higher in August 2014 and on average over the first eight months, real GDP is 2.2 per cent higher in 2014 than 2013.
Statistics Canada Cat. No. 15-001-X, CANSIM
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