DAILY NEWS Jan 6, 2014 1:58 PM - 0 comments

Real gross domestic product rose 0.3% in October, up for a fourth consecutive month

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2014-01-06

Ottawa - The output of goods-producing industries grew 0.4% in October 2013, mainly as a result of an increase in manufacturing, according to Statistics Canada. Construction as well as mining and oil and gas extraction were unchanged in October. The agriculture and forestry sector and utilities edged down.

The output of service industries increased 0.3% in October, as almost all major industrial sectors registered growth. A notable gain was recorded in wholesale trade. Increases were also recorded in retail trade, transportation and warehousing services, the public sector, accommodation and food services, and the finance and insurance sector. The arts and entertainment sector edged down.

Manufacturing output increases

Manufacturing output increased 1.3% in October, after rising 1.2% in September. Manufacturing of non-durable goods grew 2.3%, mainly because of increases in the manufacturing of chemical, food and beverage and tobacco products.

Manufacturing of durable goods was up 0.5% in October, on the strength of the manufacturing of transportation equipment and primary metal. These gains were partly offset by declines in machinery and computer and electronic products manufacturing.

Wholesale and retail trade grow

Wholesale trade grew 1.4% in October, up for a fourth consecutive month. Wholesaling of machinery, equipment and supplies was the main source of growth.

Retail trade increased 0.3% in October, after rising 1.0% in September. There were notable gains at food and beverage stores, electronics and appliance stores and health and personal care stores. In contrast, retailing activity was down at motor vehicles and parts dealers and, to a lesser extent, at furniture and home furnishings stores.

Mining, quarrying and oil and gas extraction is unchanged

Overall, mining, quarrying and oil and gas extraction was unchanged in October.

Support activities for mining and oil and gas extraction grew 3.0% in October, as both drilling and rigging services increased.

Mining and quarrying (excluding oil and gas extraction) rose 1.0%, as increases in metallic and potash mining more than offset a decrease in coal mining.

In contrast, oil and gas extraction was down 0.8% in October, as a result of declines in both oil and gas extraction.

Construction is unchanged

Overall, construction was essentially unchanged in October. Engineering and repair construction increased while residential building construction decreased. Non-residential building construction was unchanged.

The output of real estate agents and brokers declined 3.3% in October, the first decline in eight months, as activity in the home resale market decreased.

Other industries

Transportation and warehousing services grew 0.8%, as a result of gains in truck transportation, support activities for transportation and pipeline transportation.

The public sector (education, health and public administration combined) edged up 0.1%, with growth in all of its components.

Accommodation and food services grew 0.6% in October, in parallel with an increase in the number of overnight travellers to Canada.

The finance and insurance sector edged up 0.1% in October.



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