Québec’s real GDP at basic prices up 0.1% in August 2022
Québec, November 28, 2022. – In August 2022, Québec’s real gross domestic product (GDP) at basic prices was up 0.1% after a 0.4% decrease in July. This was revealed in the publication Produit intérieur brut par industrie au Québec, août 2022 released today by the Institut de la statistique du Québec.
Service production up 0.1%
Service industries were up 0.1% in August after a 0.1% decrease in July. Wholesale trade (+2.2%), retail trade (+1.6%) and public administration (+0.7%) posted the strongest increases, while health care and social assistance (-0.6%), educational services (-0.6%) and professional, scientific and technical services (-0.4%) declined.
Goods production stable
Output in the goods-producing industries remained relatively unchanged in August, after four consecutive monthly decreases. The increases observed in construction (+3.1%) and mining, quarrying, and oil and gas extraction (+4.3%) were offset by a decline in manufacturing (-2.3%).
The drop in manufacturing real GDP in August came from a decline in 15 of its 19 subsectors, including machinery manufacturing (-5.1%), fabricated metal product manufacturing (-3.4%), and food manufacturing (-2.0%).
Cumulative total for the first eight months of 2022: Québec’s real GDP up 3.5%
For the first eight months of 2022, Québec’s real GDP was 3.5% higher than in the same months of 2021. The sectors that contributed the most to this increase are manufacturing (+3.8%), accommodation and food services (+28.8%), educational services (+6.6%), professional, scientific and technical services (+5.6%), transportation and warehousing (+11.2%), and retail trade (+4.9%).
Canada’s real GDP at basic prices up in August 2022
According to data published by Statistics Canada on October 28, 2022, Canada’s real GDP at basic prices was up 0.1% in August 2022 from the previous month. Service-producing industries increased by 0.3%, while goods-producing industries decreased by 0.3%.
Real gross domestic product by industry1
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1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonally adjusted and annualized.
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