Québec, January 28, 2025. – In October 2024, Québec’s real gross domestic product (GDP) at basic prices was up 0.3% from the previous month, following a 0.2% increase in September 2024. This was revealed in the publication Produit intérieur brut par industrie au Québec, octobre 2024 released today by the Institut de la statistique du Québec.
Production of goods rose by 0.5%
Output in the goods-producing industries was up 0.5% in October, after decreasing 0.4% in September. The increase in October came mainly from the mining, quarrying, and oil and gas extraction sector (+9.4%), and to a lesser extent, from the manufacturing sector (+0.4%). In contrast, agriculture, forestry, fishing and hunting declined by 4.5%.
Service production up 0.2%
The output of service-producing industries was up 0.2% in October after a 0.4% increase in September. The growth in October was mainly attributable to wholesale trade (+1.2%), and to a lesser extent, to real estate and rental and leasing (+0.3%), accommodation and food services (+1.6%), and educational services (+0.4%).
Cumulative total for the first ten months of 2024: Québec’s real GDP up 1.1%
For the first ten months of 2024, Québec’s real GDP was 1.1% higher than in the same months of 2023. The real GDP of goods-producing industries was 1.1% lower compared with the same period in 2023, while that of service-producing industries was up 1.8%. The sectors that contributed the most to this increase are real estate and rental and leasing (+2.9%), wholesale trade (+4.3%), finance and insurance (+3.2%), and health care and social assistance (+2.3%).
Canada’s real GDP at basic prices up 0.3% in October 2024
According to data published by Statistics Canada on December 23, 2024, Canada’s real GDP at basic prices was up 0.3% in October following a 0.2% increase in September. Output in the goods and service industries grew by 0.9% and 0.1%, respectively.
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Real gross domestic product by industry 1 |
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| 2023 | 2024 | |||||
| Annual change | Monthly change | Cumulative change 2 | ||||
| September | October | |||||
| Québec | 0.6 | 0.2 | 0.3 | 1.1 | ||
| Canada | 1.6 | 0.2 | 0.3 | 1.4 | ||
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1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2017), seasonally adjusted and annualized. Sources |
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The Institut de la statistique du Québec produces, analyzes and disseminates official, objective and quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and an essential source of information for all those wishing to learn more about Québec.