Bloomberg News

Canada April Gross Domestic Product Report (Text)

June 28, 2013

The following is the text of the April GDP report released by Statistics Canada.

Real gross domestic product grew 0.1% in April, a fourth consecutive monthly increase. Service industries led the gain in April.

The output of service industries expanded 0.3% in April, with almost all major industrial groups recording increases. There were gains in wholesale and retail trade, the finance and insurance sector, the arts and entertainment sector, as well as the transportation and warehousing sector, while public administration edged down. In contrast, goods production decreased 0.3% as a result of a notable decline in mining, quarrying, and oil and gas extraction. Declines were also recorded in construction, while manufacturing, utilities and the agriculture and forestry sector rose.

Wholesale and retail trade increase

Wholesale trade was up 0.6% in April, after declining 0.5% in March. The wholesaling of machinery, equipment and supplies was the main contributor to wholesale growth in April. In contrast, food, beverage and tobacco wholesaling declined.

Retail trade increased 0.5% on the strength of motor vehicles and parts dealers and, to a lesser extent, health and personal care stores as well as miscellaneous store retailers. On the other hand, retailing activity at clothing and clothing accessories stores as well as building material and garden equipment and supplies dealers was down.

The finance and insurance sector grows

The finance and insurance sector grew 0.6% in April. Banking, financial investment services and, to a lesser extent, insurance services all increased.

Mining, quarrying and oil and gas extraction contracts

Mining, quarrying and oil and gas extraction contracted 1.5% in April, down for the first time in seven months.

Oil and gas extraction fell 2.7% in April, as a result of declines in both oil and gas production. This follows increases of 1.7% in March and 1.1% in February.

Mining and quarrying (excluding oil and gas extraction) decreased 0.6%, as a result of declines in output at potash and coal mines. In contrast, metallic mineral mining was up 1.0% in April.

Support activities for mining and oil and gas extraction rose 3.2% in April, on the strength of drilling services.

Manufacturing output increases

Manufacturing output grew 0.2% in April. Durable goods production increased 0.5%, led by gains in computer and electronic products and non-metallic mineral products. In contrast, primary metal and machinery manufacturing declined. Non-durable goods production fell 0.3% in April. Declines in petroleum and coal products, as well as chemical and food manufacturing more than offset gains in printing and related support activities, and textile, clothing and leather products manufacturing.

Construction decreases

Construction decreased 0.4% in April. Residential and non-residential building construction declined, as did engineering and repair construction.

The output of real estate agents and brokers rose 1.0% in April, up for a second consecutive month, as activity in the home resale market increased.

Other industries

The arts and entertainment sector increased 3.4% in April, mainly the result of an extended season following the end of a labour dispute in professional hockey.

The public sector (education, health and public administration combined) was unchanged in April, as gains in education and health care offset the decline in public administration.

Note to readers

The monthly gross domestic product (GDP) by industry data at basic prices are chained volume estimates with 2007 as the reference year. This means that the data for each industry and each aggregate are obtained from a chained volume index multiplied by the industry’s value added in 2007. The monthly data are benchmarked to annually chained Fisher volume indexes of GDP obtained from the constant-price input-output tables up to the latest input-output tables year (2009).

For the period starting with January 2010, the data are derived by chaining a fixed-weight Laspeyres volume index to the prior period. The fixed weights are 2009 industry prices.

This approach makes the monthly GDP by industry data more comparable with the expenditure-based GDP data, chained quarterly.

All data in this release are seasonally adjusted. For more information on seasonal adjustment, see Seasonal adjustment and identifying economic trends (http://www5.statcan.gc.ca/bsolc/olc-cel/colc-cel?catno=11-010-X201000311141&lang=eng) .

For more information about monthly national GDP by industry, see the National economic accounts (http://www.statcan.gc.ca/nea-cen/index-eng.htm) module on our website.

To contact the reporter on this story: Ilan Kolet in Ottawa at ikolet@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net


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