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December 21, 2018CANADA GDP BY INDUSTRY, OCTOBER 2018 Real GDP in Canada increased 0.3 per cent in October after declining in September. Overall, 15 of the 20 industrial sectors grew in October. Compared to October 2017, the Canadian economy is 2.2 per cent larger with an annualized value of $1,946 billion (chained 2012 dollars).
The output of the goods-producing industries was up 0.3 per cent in October. This was mainly due to a 0.7 per cent increase in the manufacturing sector, as both durable and non-durable manufacturing increased. Utilities increased 1.5 per cent as record snowfalls in Alberta and cooler temperatures across most of the country contributed to higher demand for electric heat. The mining, quarrying and oil and gas extraction sector edged up 0.2 per cent in October as growth in oil and gas extraction was partially offset by declines in mining and support sectors. The increase in conventional oil and gas extraction was due to increased output in Newfoundland and Labrador following maintenance shutdowns in September. Non-conventional oil extraction was also up as production facilities were almost back to full capacity following shutdowns in recent months. Construction declined for the fifth consecutive month, with declines in both residential and non-residential in October.
Service-producing industries output grew 0.3 per cent in October. The finance and insurance sector grew 0.9 per cent due to increased activity in bond and money markets and unseasonal stock market activity in October. Wholesale trade grew 1.0 per cent, more than offsetting September's decline. Retail trade edged up 0.1 per cent, which does not include the activity of cannabis retailers who began to operate following legalization. Transportation and warehousing was down 0.3 per cent on lower rail and pipeline transportation, and lower output from postal service/couriers/messengers due to the rotating strikes from Canada Post. The public sector was up 0.1 per cent with increases in education, health care, and public administration.
Canada's real GDP was 2.3 per cent higher in January-October 2018 than in the same period last year. Year-to-date growth was 2.6 per cent in the goods-producing sector, with mining, quarrying, and oil and gas extraction reporting the strongest growth (+4.2 per cent). Services are up 2.2 per cent compared to January-October 2017, with the strongest growth in professional, scientific and technical services (+4.3 per cent), and health care and social assistance (+3.5 per cent). For the first ten months of 2018, lower activity occurred in agriculture, forestry, fishing and hunting (-0.2 per cent), information and culture (-0.3 per cent) and management of companies and enterprises (-2.0 per cent).
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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