Mining a highlight in April’s gross domestic product growth
Ottawa, ON -- Real gross domestic product grew 0.3% in April 2012, after edging up 0.1% in March 2012, Statistics Canada reports. Most of the April increase was attributable to mining and oil and gas extraction and, to a lesser extent,...
Ottawa, ON — Real gross domestic product grew 0.3% in April 2012, after edging up 0.1% in March 2012, Statistics Canada reports. Most of the April increase was attributable to mining and oil and gas extraction and, to a lesser extent, wholesale trade. Transportation services as well as the agriculture, forestry, fishing and hunting sector increased. Retail trade, manufacturing, accommodation and food services and the public sector (education, health and public administration combined) declined.
Mining and oil and gas extraction rises
Mining and oil and gas extraction rose 2.7% in April after declining 2.0% in February and 1.1% in March. Oil and gas extraction advanced 2.4% in April as crude petroleum production rebounded from maintenance and production difficulties in February and March. Natural gas production was down slightly in April, and storage levels declined for the first time in a year. Support activities for mining and oil and gas extraction increased 5.1% as drilling and rigging services advanced.
Mining excluding oil and gas extraction grew 3.1% in April with increased output at copper, nickel, lead and zinc mines as well as potash mines.
Wholesale trade increases while retail trade is down
Wholesale trade was up 1.2% in April, a fifth consecutive monthly increase. There was notable growth in the wholesaling of agricultural supplies and building materials. In contrast, the wholesaling of farm products and food, beverage and tobacco products declined.
Retail trade fell 0.8% in April after increasing 0.5% in March. Output decreased at clothing and clothing accessories stores, new car dealers as well as general merchandise stores (which include department stores). Conversely, retailing activity at health and personal care stores and gasoline stations was up.
Manufacturing declined 0.3% in April. Durable goods production decreased 0.5% as a result of lower output of fabricated metal products and non-metallic mineral products, which outweighed gains in primary metals and machinery manufacturing. The manufacturing of non-durable goods was unchanged in April, as increased production of petroleum and coal products and chemical products was offset by declines in textiles, clothing and food products.
Transportation and warehousing services increase
Transportation and warehousing services rose 0.7%, as trucking and rail transportation benefited from the strength in mining and wholesale trade.
Construction edges down
Construction edged down 0.1% in April as declines in residential construction and repair works outweighed gains in non-residential building and engineering construction. In contrast, the output of real estate agents and brokers (+1.2%) was up for a third consecutive month as activity in the home resale market continued to increase.
There were increases in the agriculture, forestry, fishing and hunting sector in April. The public sector edged down 0.1%, primarily as a result of declines in public administration. Accommodation and food services as well as the arts, entertainment and recreation sector also decreased in April.