Québec, February 25, 2025. – In November 2024, Québec’s real gross domestic product (GDP) at basic prices was down 0.5% from the previous month, following a 0.3% increase in October 2024. This was revealed in the publication Produit intérieur brut par industrie au Québec, novembre 2024 released today by the Institut de la statistique du Québec.
Goods production declined by 0.9%
The output of goods-producing industries was down 0.9% in November, after rising 0.6% in October. The decline in November came mainly from the manufacturing sector (-1.0%), particularly the transportation equipment manufacturing (-2.7%) and primary metal manufacturing (-2.6%) subsectors.
Service production down 0.3%
The output of service-producing industries was down 0.3% in November after a 0.2% increase in October. The decrease in November was mainly due to wholesale trade (-1.7%) and transportation and warehousing (-2.1%).
Cumulative total for the first eleven months of 2024: Québec’s real GDP up 1.1%
For the first eleven 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 1.9%. The sectors that contributed the most to this increase are real estate and rental and leasing (+3.0%), health care and social assistance (+2.4%), finance and insurance (+3.2%), and wholesale trade (+3.8%).
Canada’s real GDP at basic prices down 0.2% in November 2024
According to data published by Statistics Canada on January 31, 2025, Canada’s real GDP at basic prices was down 0.2% in November after a 0.3% increase in October. Output in the goods and service industries decreased by 0.6% and 0.1%, respectively.
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Real gross domestic product by indutry1 |
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| 2023 | 2024 | |||||
| Annual change | Monthly change | Cumulative change2 | ||||
| October | November | |||||
| Québec | 0.6 | 0.3 | −0.5 | 1.1 | ||
| Canada | 1.6 | 0.3 | −0.2 | 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.