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March 01, 2019CANADA GDP BY INDUSTRY, DECEMBER 2018 AND ANNUAL Real GDP in Canada decreased 0.1 per cent in December, the second monthly decline in a row. In December declines in the goods producing sectors (mining, quarrying, oil and gas) and in some service producing industries (Admin and support services, management of companies and enterprises, and other services) outstripped gains in other sectors. In total, 13 of 20 industrial sectors were up in December. Compared to December 2017, the Canadian economy is 1.1 per cent larger with an annualized value of $1,944 billion (chained 2012 dollars).
The output of the goods-producing industries was down 0.7 per cent in December and has declined for five consecutive months. Manufacturing (-0.7%) contracted for the fourth time in the past five months with lower activity in petroleum and coal product manufacturing and chemical products. Durable manufacturing was down 0.3 per cent, with declines in machinery, transportation equipment, and wood products manufacturing. There were some increases in fabricated metal manufacturing and miscellaneous manufacturing.
The construction sector continued to decline, for the seventh consecutive month. Residential and non-residential construction gains could not outstrip declines in engineering and other construction this month (down 3.6%). Mining excluding oil and gas extraction increased 5.5 per cent, the largest growth rate since June 2014. However, support activities for mining and oil and gas extraction fell 16.8 per cent, and overall the mining sector declined 0.3 per cent month to month.
Service-producing industries output increased 0.2 per cent in December. Wholesale trade was up 0.4 per cent on gains in miscellaneous wholesaling and building materials and supplies. There were notable declines in personal and household goods, and farm products wholesaling. Retail trade was up 0.2 per cent with gains in building material and garden equipment and supplies and motor vehicle and parts dealers. Clothing and clothing accessories, electronics and appliances, and general merchandise retailing all saw declines, following the holiday shopping trend in November.
Finance and insurance increased 0.2 per cent in December, with gains in depository credit intermediation and insurance carriers, while financial investment services, funds and other financial vehicles was unchanged. The public sector was up 0.1 per cent, and accommodation and food services rose 1.0 per cent month to month.
Annually, Canada's real GDP was up 2.0 per cent, with 18 of 20 industrial sectors showing gains, and goods producing industries growing by 2.4 per cent and services producing industries growing by 2.1 per cent.
Manufacturing grew by 2.2 per cent with gains in durable and non durable manufacturing. Growth in durable manufacturing was led by fabricated metal products and machinery manufacturing, while non-durable subsectors saw gains in chemical manufacturing. Mining, quarrying and oil and gas rose 4.6 per cent, with a 7.1 per cent gain in oil and gas extraction. There were also increases in construction, utilities, and agriculture, forestry, fishing and hunting sectors.
Service producing industries saw gains in all sectors except management of companies and information and cultural industries. Strong gains occurred in health care and social assistance, professional services, and transportation and warehousing.
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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