Canadian GDP rises in construction, manufacturing and transportation sectors in May

Tuesday, 31 July 2018 21:11:10 (GMT+3)   |   San Diego
       

According to Statistics Canada, real gross domestic product (GDP) was up 0.5 percent in May, after increasing 0.1 percent in April. The rise was widespread as 19 of 20 industrial sectors registered increases.

The mining, quarrying, and oil and gas extraction sector was up for the fourth month in a row in May, growing by 1.8 percent.

Construction increased 0.7 percent in May, essentially compensating for April's decline. Residential building construction (+1.3 percent) and repair construction (+1.5 percent) were both up after decreases in April. Non-residential building construction declined 0.5 percent after posting gains for the six previous months.

The manufacturing sector edged up 0.1 percent in May, following a 0.8 percent increase in April when the real inventory-to-sales ratio was the highest since August 2009.

Durable manufacturing declined 0.7 percent as its 10 subsectors were evenly split between increases and decreases. Transportation equipment (-2.5 percent) led the decline as five of seven industry groups contracted. Fabricated metal products decreased 4.8 percent, following three months of increases. Machinery manufacturing (+2.5 percent) had the largest increase in terms of output.

Transportation and warehousing services were up 0.4 percent, led by increases in truck (+0.6 percent) and rail (+1.2 percent) transportation. Pipeline transportation edged down 0.2 percent as natural gas transportation declined, while crude oil transportation rose.


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