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- Canadian gross domestic product was down 0.3% in October
Canadian gross domestic product was down 0.3% in October
After increasing for four consecutive months, real gross domestic product was down 0.3% in October. Widespread decreases in manufacturing output and lower oil and gas extraction were the major contributors to the decline.
Goods-producing industries contracted 1.3% as manufacturing, mining, quarrying, and oil and gas extraction, construction, utilities and the agriculture and forestry sector all declined in October.
Service-producing industries edged up 0.1%, mainly due to increases in real estate and rental and leasing as well as retail and wholesale trade. The public sector (education, health and public administration combined) also edged up. The finance and insurance, administrative services, accommodation and food services and transportation and warehousing services sectors declined.
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