Gross domestic product by industry
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Real gross domestic product rose 0.4% in November after growing by 0.2% in October. Oil and gas extraction led the way in November, followed by wholesale and retail trade, real estate and the finance and insurance sector. Manufacturing declined, largely as a result of temporary plant shutdowns for retooling in the motor vehicle assembly industry and shift reductions in the motor vehicle parts industry. Construction also decreased.
Mining and oil and gas extraction continue to strengthen
Oil and gas extraction grew 2.4% in November. This increase was mainly attributable to higher synthetic crude petroleum production following the completion of maintenance to upgraders. Natural gas production was unchanged.
However, support activities for mining, oil and gas extraction declined 3.4% as a result of decreases in rigging and drilling activities.
Note to readers
The monthly gross domestic product (GDP) by industry data at basic prices are chained volume estimates with 2002 as their reference year. This means that the data for each industry and aggregate are obtained from a chained volume index multiplied by the industry's value added in 2002. For the 1997 to 2007 period, the monthly data are benchmarked to annually chained Fisher volume indexes of GDP obtained from the constant-price input-output tables.
For the period starting with January 2008, the data are derived by chaining a fixed-weight Laspeyres volume index to the prior period. The fixed weights are the industry output and input prices of 2007. This makes the monthly GDP by industry data more comparable with the expenditure-based GDP data, chained quarterly.
Revisions
With this release of monthly GDP by industry, revisions have been made back to January 2010. For more information about monthly GDP by industry, see the National Economic Accounts module on our website (www.statcan.gc.ca/nea-cen/index-eng.htm).
In mining, iron ore extraction grew 10.8% returning to its August level after two consecutive monthly declines.
Gains in wholesale and retail trade
Wholesale trade rose 1.5% in November on the strength of trade in machinery and equipment, farm products, building materials as well as food, beverage and tobacco products. Wholesale activity in motor vehicles fell during the month.
Retail trade advanced 1.4% in November after a slight decline the month before. It was the second largest monthly increase in 2010 after the 2.1% gain in March. Growth in November was mostly attributable to clothing and accessory stores, new car dealers as well as food and beverage stores. Retail activity at gasoline stations and home electronics stores declined.
Finance and insurance resume growth
The finance and insurance sector rose 0.7%. There were increases in the volume of trading on the stock exchanges, in personal lending and in mortgages. The sales of mutual funds declined.
Manufacturing down
Manufacturing declined 0.8% in November. Most of the decline was the result of temporary plant shutdowns for retooling in the motor vehicle assembly industry and shift reductions in the motor vehicle parts industry. Excluding the motor vehicle and associated parts industries, the manufacturing sector was down 0.2%. Output at refineries rebounded 4.6% following the end of maintenance work at various plants.
Real estate market up while construction drops
There was a widespread increase in the home resale market across the country in November, leading to a growth of 7.6% in the output of real estate agents and brokers. This marked a fourth consecutive monthly increase for this industry. However, its level of output was still 8% below that recorded in April.
Construction declined 0.4% in November. Residential building construction continued to retreat as a result of reduced demand for single and semi-detached homes. Non-residential building construction decreased 0.2% while engineering and repair work edged up 0.1%.
Available on CANSIM: table 379-0027.
Definitions, data sources and methods: survey number 1301.
The November 2010 issue of Gross Domestic Product by Industry, Vol. 24, no. 11 (15-001-X, free), is now available from the Key resource module of our website under Publications.
Data on gross domestic product by industry for December will be released on February 28.
For more information, or to order data, contact the dissemination agent (toll-free 1-800-887-4623; 613-951-4623; iad-info-dci@statcan.gc.ca). To enquire about the concepts, methods or data quality of this release, contact Bernard Lefrançois (613-951-3622), Industry Accounts Division.
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