Gross domestic product by industry, November 2014
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Real gross domestic product declined 0.2% in November, largely the result of declines in manufacturing, mining, and oil and gas extraction.
Goods production fell 0.8% in November. Notable decreases were recorded in manufacturing and mining, quarrying, and oil and gas extraction. In contrast, utilities and the agriculture and forestry sector increased. Construction was unchanged in November.
The output of service industries was unchanged in November, as increases in retail trade and the public sector (education, health and public administration combined) were offset by declines in other areas. Notable decreases occurred in wholesale trade and the finance and insurance sector.
Manufacturing output falls
Manufacturing output fell 1.9% in November, after rising 0.7% in September and 0.6% in October. Durable-goods manufacturing decreased 1.8% in November, as most industrial subgroups declined. Decreases were most notable in the manufacturing of machinery, fabricated metal products and primary metal.
Non-durable goods manufacturing fell 1.9% in November, mostly as a result of notable decreases in chemical, and to a lesser extent, plastic and rubber products manufacturing.
Mining, quarrying, and oil and gas extraction decreases
Mining, quarrying, and oil and gas extraction decreased 1.5% in November, following increases of 1.9% in September and 1.2% in October.
Mining and quarrying (excluding oil and gas extraction) fell 2.5% in November, after increasing 1.8% in October, mainly as a result of declines in iron ore, potash and coal mining.
After rising 3.5% in September and 1.7% in October, oil and gas extraction was down 0.7% in November, owing to the decline in non-conventional oil extraction. Conventional oil and gas extraction increased in November.
Support activities for mining and oil and gas extraction decreased 3.7% as a result of a decline in rigging services.
Wholesale trade declines while retail trade increases
Wholesale trade declined 0.6% in November, following a 0.2% decrease in October. November's decline was mostly a result of decreases in the wholesaling of machinery, equipment and supplies and, to a lesser extent, of building materials and supplies as well as petroleum products. In contrast, the wholesaling of motor vehicles and parts and of personal and household goods grew in November.
Retail trade was up 0.9% in November. Increases were notable in clothing and clothing accessories stores, general merchandise stores (which include department stores) and electronics and appliance stores. However, there were declines in retailing activity at food and beverage stores as well as building material and garden equipment and supplies dealers.
The finance and insurance sector declines
After rising for five consecutive months, the finance and insurance sector was down 0.4% in November. Banking services, financial investment services and insurance services all decreased.
Construction was unchanged in November. Increases in non-residential building and engineering construction were offset by declines in residential building and repair construction.
The output of real estate agents and brokers was down 0.6% in November, a third consecutive monthly decline.
Utilities increased 2.4% in November, after declining 1.5% in October. The demand for both electricity and natural gas rose in November.
The agriculture and forestry sector increased 0.8% in November, mainly the result of higher crop production.
Monthly gross domestic product by industry at basic prices in chained (2007) dollars – Seasonally adjusted
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 (2011).
For the period starting with January 2012, the data are derived by chaining a fixed-weight Laspeyres volume index to the prior period. The fixed weights are 2011 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 Seasonally adjusted data – Frequently asked questions.
With this release of monthly GDP by industry, revisions have been made back to January 2014.
For more information about monthly national GDP by industry, see the System of macroeconomic accounts module on our website.
Data on gross domestic product by industry for December 2014 will be released on March 3, 2015.
For more information, contact us (toll-free 1-800-263-1136; 514-283-8300; firstname.lastname@example.org).
To enquire about the concepts, methods or data quality of this release, contact Allan Tomas (613-951-9277), Industry Accounts Division.
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