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July 31, 2015GDP BY INDUSTRY MAY 2015 Canada's real GDP was down 0.2 per cent in May, the fifth consecutive monthly decline. Goods production fell for the fifth month in a row with a decline of 0.6 per cent while service-producing industries declined 0.1 per cent after three months of positive growth. Compared to May 2014, real GDP was up 0.5 per cent and on a year-to-date (Jan-May 2015 vs. Jan-May 2014), GDP is 1.5 per cent larger.
For May, goods production was down mainly as a result of declines in manufacturing and mining, quarrying and oil and gas extraction. Manufacturing output fell 1.7 per cent for the month and is 2.3 per cent below the level from May 2014. Declines occurred in machinery, computer and electronic products, and fabricated metal products on the durable sides while non-durables declined on lower food, beverage and tobacco manufacturing, textiles, clothing and leather, chemicals, and printing. Oil and gas extraction fell 1.0 per cent in May while mining and quarrying was down 0.8 per cent with a decline in metallic mineral mining. Construction activity grew 1.0 per cent in May.
Wholesale trade was down 1.0 per cent in May following increases the previous two months with lower machinery, equipment and supplies, miscellaneous wholesaling, and motor vehicle and parts. Retail was up with increases in building material and garden equipment and electronics and appliance stores. Finance and insurance declined on weaker banking services outweighing financial investment and insurance services. Accommodations and food services increased as number of overnight travellers to Canada was up. The public sector (education, health, public administration) was down 0.1 per cent in May with declines in educational and health care services.
Statistics Canada Cat. No. 15-001-X, CANSIM 379-0031