Québec’s real GDP at basic prices stable in February 2023
Québec, May 24, 2023. – In February 2023, Québec’s real gross domestic product (GDP) at basic prices was little changed (0.0%) from the previous month, following a 0.1% increase in January. This was revealed in Produit intérieur brut par industrie au Québec, février 2023 released today by the Institut de la statistique du Québec.
Production of goods up 0.1%
Output in the goods-producing industries was up 0.1% in February, after a decrease of 0.2% in January. Manufacturing (+0.5%) and utilities (+1.7%) were up, whereas mining, quarrying, and oil and gas extraction (-2.0%) and agriculture, forestry, fishing and hunting (-0.6%) posted declines.
The increase in manufacturing came from gains in the chemical manufacturing (+4.1%) and fabricated metal product manufacturing (+3.8%) subsectors. Furniture and related product manufacturing was down 8.7%.
Service output stable
In February, output in the service industries was little changed (0.0%) after a 0.2% increase in January. Ten of the fifteen service sectors posted gains in February, with the main contribution coming from educational services (+0.6%). In contrast, wholesale trade posted a significant decline (-2.3%).
Cumulative total for the first two months of 2023: Québec’s real GDP up 1.3%
For the first two months of 2023, Québec’s real GDP was 1.3% higher than in the same months of 2022. The sectors that contributed the most to the GDP increase over this period were accommodation and food services (+32.8%), transportation and warehousing (+12.0%), professional, scientific and technical services (+4.9%), and public administration (+3.3%).
Canada’s real GDP at basic prices up 0.1% in February 2023
According to data published by Statistics Canada on April 28, 2023, Canada’s real GDP at basic prices was up by 0.1% in February from the previous month. Goods-producing industries and service-producing industries both increased by 0.1%.
Real gross domestic product by industry1
|Annual change||Monthly change||Cumulative change2|
1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonnally adjusted and annualized.
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