Day by day – GDP by Trade, October 2021

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Issued: 2021-12-23

Actual GDP by Trade

October 2021

0.8%

(month-to-month change)

Actual gross home product (GDP) grew by 0.8% in October after a 0.2% improve in September, as broad-based development throughout sectors contributed to a fifth consecutive month-to-month growth.

chart 1

Chart 1: Real GDP up in October
Actual GDP rises in October


Chart 1: Real GDP up in October

Each goods-producing (+1.6%) and service-producing (+0.6%) industries have been up with 17 out of 20 industrial sectors posting positive factors in October.

Advance data signifies that actual GDP grew 0.3% in November. Main the expansion have been housing and meals providers, wholesale commerce, development and the humanities and leisure sectors, whereas the mining, quarrying and oil and fuel extraction sectors offset a few of the positive factors. Resulting from its preliminary nature, this estimate shall be up to date on February 1, 2022, with the discharge of official GDP information for November 2021.

Manufacturing Rebounds

The manufacturing sector rebounded 1.8% in October, increased than the 1.5% contraction in September, with each sturdy and non-durable items manufacturing contributing to development.

chart 2

Chart 2: Manufacturing Sector Growth in October
Manufacturing sector grows in October


Chart 2: Manufacturing Sector Growth in October

Sturdy manufacturing grew 1.9% in October, led by a 9.3% rebound in transportation tools manufacturing. Manufacturing at automotive (+47.8%) and automotive elements (+13.1%) manufacturing amenities jumped strongly in October, largely offsetting the September decline, ongoing world semiconductor chip shortages and different provide chain points. Regardless of, which has constantly disrupted manufacturing.

Non-durable manufacturing was up 1.7% in October, increased than a 1.3% drop in September, as many of the sub-sectors expanded. Manufacturing of plastics and rubber merchandise (+5.8%) contributed essentially the most to the expansion, partly attributable to excessive demand from producers of automotive and automotive elements. Beverage and tobacco merchandise (+6.3%), chemical compounds (+1.9%) and meals (+1.3%) manufacturing contributed additional to this development. Petroleum and Coal Merchandise (-1.7%) and paper (-1.1%) Manufacturing offsets a few of the revenue.

Building will increase as all sub-sectors are up

After 4 declines prior to now 5 months, development rose 1.6% in October, as all kinds of development exercise picked up within the month.

Residential constructing development (+2.0%) led development in October as increased house change and enchancment actions, together with a rise in multi-unit housing development, greater than offset continued declines in single-family house development. .

Non-residential constructing development rose 1.3% in October, the fourth consecutive acquire, as non-residential constructing development of all sorts was up throughout the month. Restore development grew by 1.9% in October, whereas engineering and different development actions grew by 1.2%.

Grows on nationwide development in actual property exercise

Actual property and rental and leasing sectors expanded 0.8% in October, the largest development since December 2020. Output from actual property brokers and brokers’ places of work jumped 8.8% in October, as house resale exercise elevated coast-to-coast led by Ontario, British Columbia, Quebec and Alberta.

Authorized providers, which derives most of its exercise from actual property transactions, grew 1.6% in October; The trade grew for the fourth consecutive month.

Along with authorized providers, all industries comprising the skilled, scientific and technical providers sectors (+1.2%) additionally registered development. Different skilled, scientific and technical providers, together with pc techniques design and associated providers (+1.5%), architectural, engineering and associated providers (+1.2%) and scientific analysis and improvement (+0.9%), contributed most to the expansion.

Mining, quarrying, and oil and fuel extraction proceed to broaden

Mining, quarrying, and oil and fuel extraction rose 1.5% in October, rising for the sixth straight month, as all three sub-sectors have been up.

chart 3

Chart 3: Mining, quarrying, and oil and gas extraction rise in October
Mining, quarrying, and oil and fuel extraction rise in October


Chart 3: Mining, quarrying, and oil and gas extraction rise in October

The oil and fuel extraction sub-sector grew 1.5% in October, for the fifth time in six months. Oil sands extraction was up 3.9% in Alberta attributable to robust development in crude bitumen and artificial crude manufacturing. Robust world demand contributed to the rise in power product costs and the completion of deliberate upkeep actions on some oil sands upgraders. Oil and fuel extraction (excluding oil sands) contracted 1.8% as increased pure fuel extraction was greater than offset by decrease crude petroleum extraction, significantly off Canada’s North Atlantic coast.

Mining excluding oil and fuel extraction grew 1.7% in October on broad-based trade positive factors. Non-metallic mineral mining and quarrying grew by 4.1%, led by energy in potash mining (+5.1%). Steel ore mining elevated by 0.6% within the type of iron ore mining (+3.6%) in addition to copper, nickel, lead and zinc mining (+1.5%), buoyed by elevated exports; gold and silver ore mining (-4.6%) moderated a few of the development. Coal mining rose 1.6% in October.

Transport and storage sector continues to develop

Transport and warehousing providers grew 1.6% in October as 7 out of 10 sub-sectors have been up.

For the fourth time within the final 5 months, air transport (+19.0%) skilled double-digit development as extra home and worldwide passengers took to the skies. Regardless of these positive factors, the sub-sector continues to be down about 69% from January 2020 ranges of exercise. Trucking and help actions for transportation each elevated 1.1%. Pipeline transport elevated by 0.6%, pushed by elevated motion of each crude oil and pure fuel.

Postal Companies and Couriers and Messengers (-0.5%) and Warehousing Companies (-0.9%) offset a few of the improve in October.

different industries

Retail commerce grew 1.0% in October, with 8 of the 12 sub-sectors reporting positive factors. Sporting items, passion, e-book and music shops (+12.6%) led the expansion, whereas automotive and elements sellers grew 1.9%, pushed by increased retail exercise from new automobile sellers. Retail gross sales exercise at gasoline stations (-3.6%) decreased in October.

The humanities, leisure and leisure sector grew 7.1% in October as all sub-sectors have been up, benefiting from the continued easing of capability limits for giant group gatherings. The performing arts, sports activities and heritage establishments (+15.4%) led the expansion, whereas the leisure, playing and leisure industries grew by 1.9%.

Agriculture, forestry, fishing and searching elevated by 2.3% in October attributable to crop manufacturing. Crop manufacturing (apart from hashish) started its restoration from a disappointing crop yr. It rose 3.4% in October as farmers accomplished their harvest and began making ready their fields for the following crop yr.

Finance and insurance coverage (+0.5%) grew for the fifth consecutive month, pushed by broader development throughout the sector. Elevated market exercise, significantly on debt devices, and positive factors in fairness mutual funds led to development in monetary funding providers (+1.4%) and depository credit score intermediation and financial authority (+0.4%). Insurance coverage carriers and associated actions declined 0.1%.

Wholesale commerce grew by 0.6%, primarily pushed by development in new autos and elements (+6.4%) and private and family items (+2.3%) wholesale gross sales.

Housing and meals providers declined 0.5% in October as development in housing providers exceeded a second consecutive month-to-month decline in meals providers and ingesting locations.

chart 4

Chart 4: Contribution of Major Industrial Sectors to Percentage Change in GDP
Contribution of main industrial sectors to the proportion change in GDP


Chart 4: Contribution of Major Industrial Sectors to Percentage Change in GDP





sustainable improvement objectives

On 1 January 2016, the world formally started implementing the 2030 Agenda for Sustainable Growth—the United Nations’ Transformational Motion Plan, which addresses pressing world challenges over the following 15 years. The plan relies on 17 particular Sustainable Growth Objectives.

The discharge on GDP by trade is an instance of how Statistics Canada helps world Sustainable Growth Objectives reporting. This launch shall be used to assist measure the next objectives:

Word to readers

Month-to-month figures on Gross Home Product (GDP) by trade at base costs are estimated quantity estimates with 2012 because the reference yr. Which means that the info for every trade and every mixture is obtained from a chained quantity index multiplied by the trade’s worth in 2012. Month-to-month information is benchmarked to the annual Chained Fisher Quantity Index of GDP derived from constant-price provide and utilization tables. (SUT) as much as the most recent SUT yr (2018).

For the interval starting January 2019, the info are obtained by summing the LasPierce Quantity Index with a hard and fast weight to the prior interval. Mounted weights are 2018 trade costs.

This method makes month-to-month GDP by trade information extra comparable with expense-based GDP information, that are chained quarterly.

All information on this launch has been adjusted seasonally. For data on seasonal changes, see Seasonally Adjusted Information – Continuously Requested Questions.

Advance estimates of commercial manufacturing for November 2021 can be found upon request.

For extra data on GDP, watch the video “What’s Gross Home Product (GDP)?”

Modification

Month-to-month trade GDP figures, each flash and official estimates, are designed to be very well timed and are always up to date to lead to extra full and higher data on the Canadian economic system being obtainable.

Month-to-month GDP estimates by trade program are topic to a wide range of revisions. Some embody the supply of supply information used within the compilation course of, which is common as extra full and extra complete data turns into obtainable on a month-to-month, quarterly or annual foundation. Different modifications could stem from adjustments in statistical techniques, comparable to survey redesigns, whereas others could stem from conceptual, classification and definitive adjustments in addition to methodological adjustments comparable to enhancements in estimation strategies. Lastly, commonplace adjustments to the assumptions used and seasonal adjustment calculations may contribute to the revisions included in every launch.

With the discharge of month-to-month GDP by the trade, amendments have been made in January 2021. The one revision of notice to complete GDP was a 0.1 share level upward revision for development in September 2021.

real-time desk

Actual-time desk 36-10-0491-01 shall be up to date on January 10, 2022.

subsequent launch

The November 2021 information on GDP by trade shall be launched on February 1, 2022.


merchandise

Consumer Information: Canadian System of Macroeconomic Accounts ,Catalogue Quantity13-606-G) is on the market.

Methodological Information: Canadian System of Macroeconomic Accounts ,Catalogue Quantity13-607-X) can also be obtainable.

Financial Accounts Statistics Portal, may be accessed from topics The modules of the Statistics Canada web site supply an up-to-date image of nationwide and provincial economies and their buildings.

contact data

Contact us for extra particulars (Toll Free 1-800-263-1136, 514-283-8300, infostats@statcan.gc.ca).

To inquire concerning the ideas, strategies or information high quality of this launch, contact Adern Victor (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca), Trade Accounts Division.

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