According to Statistics Canada, Canada’s real gross domestic product (GDP) expanded 0.3 percent in October, following a 0.1 percent decrease in September. There was growth in 15 of 20 industrial sectors, led by increases in manufacturing, finance and insurance and wholesale trade.
The manufacturing sector expanded 0.7 percent in October, almost fully offsetting the declines in August and September. Both durable (+0.9 percent) and non-durable (+0.4 percent) manufacturing increased. The increased output in October partly reflected increased inventories.
Machinery, equipment and supplies wholesaling led the growth with a 2.7 percent increase as all industries expanded. Personal and household goods wholesaling rose 2.8 percent, largely due to growth in pharmaceutical wholesaling. The largest decline in terms of activity was by wholesalers of building materials and supplies (-2.0 percent).
The mining, quarrying and oil and gas extraction sector edged up 0.2 percent in October as growth in oil and gas extraction was mostly offset by declines in other subsectors.
The mining excluding oil and gas extraction subsector decreased 4.3 percent in October as the majority of industries decreased. Following a 4.1 percent contraction in September, non-metallic minerals mining was down 7.2 percent in October, largely due to a decline in potash mining. Metal ore mining declined 2.1 percent with all industries decreasing except for copper, nickel, lead and zinc mining. Coal mining was down 2.2 percent following three months of growth.
Support activities for mining and oil and gas extraction declined 5.6 percent in October, down for a sixth consecutive month, mainly due to lower activity by drilling services.
Motor vehicle and parts dealers (+1.1 percent) and gasoline stations (+2.6 percent) led the gains in October, while there were notable declines at general merchandise stores (-1.5 percent) and furniture and home furnishings stores (-2.5 percent).
The construction sector declined for the fifth consecutive month in October, edging down 0.1 percent. Residential construction decreased 0.5 percent as growth in new housing was more than offset by a decline in housing alterations and improvements. Non-residential construction edged down 0.1 percent as growth in industrial and public construction was offset by commercial and other non-residential construction. Engineering and other construction activities rose 0.4 percent, while repair construction edged down 0.1 percent.