Canadian GDP rises 0.5 percent in June after five-month decline

Wednesday, 02 September 2015 01:42:03 (GMT+3)   |   San Diego
       

According to Statistics Canada, real gross domestic product rose 0.5 percent in June after falling for five consecutive months. The increase in June was broad based, led by mining, quarrying, and oil and gas extraction and, to a lesser extent, wholesale trade, the finance and insurance sector as well as arts and entertainment.

Following five consecutive monthly declines, the output of goods-producing industries advanced 0.9 percent in June, primarily as a result of an increase in mining, quarrying, and oil and gas extraction. Manufacturing, the agriculture and forestry sector and utilities were also up. In contrast, construction was down.

Mining and quarrying (excluding oil and gas extraction) increased 2.6 percent in June. Metal ore, coal and non-metallic mineral mining all advanced in June. Support activities for mining and oil and gas extraction decreased 2.7 percent, after rising 4.6 percent in April and 1.9 percent in May.

Following a 1.6 percent increase in April and a 1.1 percent decline in May, wholesale trade rose 1.0 percent in June. Increases were notable in wholesaling of personal and household goods, motor vehicles and parts, machinery, equipment and parts as well as building materials and supplies. Conversely, activities at miscellaneous wholesalers, which include agricultural supplies, were down.

Following a 1.6 percent contraction in May, manufacturing output grew 0.4 percent in June.

Construction fell 0.6 percent in June. Residential and non-residential building and repair construction were down in June, while engineering construction edged up.

 


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