Québec, October 29, 2024. – In July 2024, Québec’s real gross domestic product (GDP) at basic prices was up 0.3% from the previous month after remaining essentially unchanged in May and June 2024. This was revealed in Produit intérieur brut par industrie au Québec, juillet 2024 released today by the Institut de la statistique du Québec.
Production of goods increased by 0.2%
Output in the goods-producing industries was up 0.2% in July, after decreasing 0.7% in June. The sectors that contributed the most to the increase in July are utilities (+1.7%) and agriculture, forestry, fishing and hunting (+3.1%). In contrast, the mining, quarrying, and oil and gas extraction sector was down 2.3%.
Service production up 0.4%
The output of service-producing industries was up 0.4% in July after a 0.2% increase in June. The growth in July was mainly due to wholesale trade (+1.6%), retail trade (+1.2%), and educational services (+0.9%).
Cumulative total for the first seven months of 2024: Québec’s real GDP up 0.8%
For the first seven months of 2024, Québec’s real GDP was 0.8% higher than in the same months of 2023. The sectors that contributed the most to this increase are real estate and rental and leasing (+2.4%) and wholesale trade (+4.3%).
Canada’s real GDP at basic prices up 0.2% in July 2024
According to data published by Statistics Canada on September 27, 2024, Canada’s real GDP at basic prices was up 0.2% in July after remaining essentially unchanged in June. Output in the goods and service industries grew by 0.1% and 0.2%, respectively.
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Real gross domestic product by industry1 |
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| 2023 | 2024 | |||||
| Annual change | Monthly change | Cumulative change2 | ||||
| June | July | |||||
| Québec | 0.2 | 0.0 | 0.3 | 0.8 | ||
| Canada | 1.2 | 0.0 | 0.2 | 1.0 | ||
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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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