Québec, May 25, 2021. – In February 2021, Québec’s real gross domestic product (GDP) at basic prices was up 1.1% following three consecutive increases, including a 0.3% gain in January. This was revealed in Produit intérieur brut par industrie au Québec, février 2021 released today by the Institut de la statistique du Québec.
Therefore, after 12 months of the pandemic, the GDP level had almost returned to its February 2020 level: it was about at 99% of that level.
Goods output declined by 0.4%
Goods-producing industries registered a 0.4% drop in February after increasing 2.2% in January. The decline in goods production in February came from mining, quarrying, and oil and gas extraction (-8.3%) and construction (-1.5%). As for the manufacturing sector (+1.3%), it posted a notable increase.
Manufacturing growth was mainly due to the following subsectors: chemical manufacturing (+7.6%), wood product manufacturing (+7.7%), furniture and related product manufacturing (+10.0%), and fabricated metal product manufacturing (+3.1%). On the other hand, machinery manufacturing decreased by 3.2%.
Service production up 1.6%
Service-producing industries rose 1.6% in February. The increase came mainly from retail trade (+18.7%). Health care and social assistance (+1.2%) and accommodation and food services (+7.1%) were also up. In contrast, the real estate and rental and leasing sector (-1.1%) declined.
Cumulative total for the first two months of 2021: Québec’s real GDP down 1.3%
For the first two months of 2021, Québec’s real GDP was 1.3% lower than in the same months in 2020. The sectors that contributed the most to the drop in GDP over this period were accommodation and food services (-46.9%), transportation and warehousing (-19.3%), arts, entertainment and recreation (-48.0%), and manufacturing (-2.1%).
Changes in real GDP by industry in Québec
Source: Institut de la statistique du Québec, Direction des statistiques économiques.
Cumulative real GDP growth1 in Québec
1. GDP growth for the period from January to the reference month compared to the same period in the previous year. Cumulative growth for december represents GDP growth for the year.
Source: Institut de la statistique du Québec, Direction des statistiques économiques.
Canada’s real GDP at basic prices up 0.4% in February 2021
According to data published by Statistics Canada on April 30, 2021, Canada’s real GDP at basic prices grew 0.4% in February 2021. Goods-producing industries were down 0.2%, while service-producing industries rose by 0.6%. For the first two months of 2021, Canada’s real GDP was 2.2% lower than in the same months of 2020.
Real gross domestic product by industry1
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| 2020 | 2021 | ||||
| Annual change | Monthly change | Cumulative change2 | |||
| January | February | ||||
| Québec | –5.3 | 0.3 | 1.1 | –1.3 | |
| Canada | –5.3 | 0.7 | 0.4 | –2.2 | |
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1. 1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonally adjusted and annualized. |
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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 all those wishing to learn more about Québec.