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- Canadian GDP up 0.6% in June
Canadian GDP up 0.6% in June
Real gross domestic product (GDP) rose 0.6% in June, essentially offsetting an equivalent decline in May. Mining, quarrying and oil and gas extraction, manufacturing and utilities were the major contributors to the increase.
Goods-producing industries increased 1.6% in June. Mining, quarrying and oil and gas extraction contributed the most to the gain, mainly because of a rise in non-conventional oil extraction, as capacity gradually returned following the Fort McMurray wildfire and evacuation in May. Manufacturing and utilities also rose, while construction and the agriculture and forestry sector decreased.
The output of service-producing industries grew for a ninth consecutive month, rising 0.2% in June. Gains were posted by the public sector (education, health and public administration combined), transportation and warehousing services, and the finance and insurance sector. Retail trade recorded the most notable decline in output.
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