Industrial GDP up slightly in November thanks to resources and manufacturing
Ottawa - Real gross domestic product grew 0.3% in November 2012, following a 0.1% rise in October, Statistics Canada reports in its latest survey of Gross Domestic Product by Industry. Most major industrial sectors increased production in...
Ottawa – Real gross domestic product grew 0.3% in November 2012, following a 0.1% rise in October, Statistics Canada reports in its latest survey of Gross Domestic Product by Industry. Most major industrial sectors increased production in November. Goods production increased 0.6% while the output of service industries rose 0.1%.
Manufacturing and mining, quarrying and oil and gas extraction were the main contributors to the November increase. Wholesale and retail trade, utilities as well as transportation and warehousing services also rose. Construction and the public sector (education, health and public administration combined) were unchanged. In contrast, accommodation and food services and the finance and insurance sector decreased.
Manufacturing output expands
Manufacturing output expanded 0.7% in November following a 0.9% decrease in October.
Durable goods production rose 0.9% in November, on the strength of primary metal and transportation equipment manufacturing. Conversely, machinery manufacturing declined in November.
Non-durable goods manufacturing increased 0.5%. Growth in chemical, petroleum and coal products, as well as food manufacturing outweighed declines recorded by manufacturers of plastic and rubber products, beverage and tobacco products, and textile, clothing and leather products.
Mining, quarrying and oil and gas extraction increases
Mining, quarrying and oil and gas extraction increased 0.8% in November. Oil and gas extraction grew 0.8%, on the strength of crude petroleum extraction. Natural gas production decreased.
Mining excluding oil and gas extraction rose 1.6% in November. An increase in non-metallic and, to a lesser extent, metallic mineral production outweighed the decline in coal mining.
Support activities for mining and oil and gas extraction fell 0.5% in November, mainly because of a decline in drilling services.
Wholesale and retail trade rise
Wholesale trade rose 0.7% in November, mainly on the strength of the wholesaling of machinery, equipment and supplies, and petroleum products. On the other hand, the wholesaling of food, beverage and tobacco products declined.
Retail trade (+0.6%) increased for a third consecutive month in November. Motor vehicles and parts dealers were the main contributors to the growth. Retailing at electronics and appliances stores and furniture and home furnishings stores also increased. In contrast, declines were recorded at miscellaneous store retailers, and clothing and clothing accessories stores.
Construction is unchanged
Construction was unchanged in November. A decline in residential building construction was offset by increases in non-residential building and engineering construction as well as repair works.
The output of real estate agents and brokers decreased 1.1%, as activity in the home resale market declined.
Utilities increased 1.4% in November, owing to higher demand for electricity.
Transportation and warehousing services increased 0.4%, mainly as a result of increases in rail and truck transportation, which benefitted from the strength in overall production in November. Support activities for transportation also increased, while pipeline transportation declined.
Accommodation and food services declined 0.9% in November, in parallel with a decrease in the number of overnight travellers to Canada.