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Economy Sees Slight Growth Again In September

By Brad Perry Nov 29, 2022 | 11:11 AM

Canada’s economy saw slight growth again in September, according to new figures from Statistics Canada.

Real GDP grew by 0.1 per cent, similar to what the nation’s economy saw in the previous three months.

Growth was led by goods-producing industries while services-producing industries were essentially unchanged.

Record-high crude bitumen production levels contributed to growth in the goods-producing industries, according to StatCan.

The mining, quarrying and oil and gas extraction sector rose 1.2 per cent in September, the seventh increase in the last eight months.

Meanwhile, manufacturing declined for the fourth time in five months, bringing the sector’s activity back to its lowest level since January. A decline in non-durable goods manufacturing was partially offset by increased activity in durable goods manufacturing.

The construction sector expanded 0.5 per cent, largely driven by a gain in engineering construction activity. There were also increases in non-residential building and repair construction.

Residential building construction was the only exception, recording a 0.6 per cent decline. That continued the downward trend that began back in April.

The agriculture, forestry, fishing and hunting sector rose 0.8 per cent, led by an increase in crop production. Increased production was largely driven by better growing conditions, leading to higher-than-expected yields.

Services-producing industries were essentially unchanged in September despite a contraction in the majority of sectors, including a reduction in retail trade and wholesale trade activity.

The retail trade sector edged down 0.1 per cent. The overall decline was offset by activity at gasoline stations. Wholesale trade also dropped 0.1 per cent, the third decline in four months.

The public sector  which includes educational services, health care and social assistance, and public administration combined — was essentially unchanged following four consecutive monthly gains.

StatCan said advance information indicates real GDP was essentially unchanged in October. The estimate will be updated on Dec. 23 with the release of the official GDP activity for October.


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