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    Québec’s real GDP at basic prices up 0.1% in May 2022

    Québec, August 30, 2022. – In May 2022, Québec’s real gross domestic product (GDP) at basic prices was up 0.1% from the previous month, back at March 2022 levels after a 0.1% drop in April. That was revealed in Produit intérieur brut par industrie au Québec, mai 2022, released today by the Institut de la statistique du Québec.

    Goods output declined by 0.8%

    Output in the goods-producing industries decreased by 0.8% in May following a 0.9% drop in April. This decline in May was mainly due to the manufacturing (–1.0%) and construction (–1.8%) sectors. Agriculture, forestry, fishing and hunting (–1.8%) and utilities (–1.0%) also decreased. On the other hand, the mining, quarrying, and oil and gas extraction sector was up a significant 4.8%.

    The drop in real manufacturing GDP in May stems from a decline in 11 of its 19 subsectors, including chemical manufacturing (–5.0%), primary metal manufacturing (–2.5%) and transportation equipment manufacturing (–1.6%).

    Service production up 0.4%

    After a 0.2% gain in April, output in the service industries rose by 0.4% in May. This growth was mainly due to transportation and warehousing (+1.8%), retail trade (+1.0%), educational services (+0.9%), and accommodation and food services (+2.3%). In contrast, the health care and social assistance and wholesale trade sectors declined by 0.7% and 0.8%, respectively, in May.

    Cumulative total for the first five months of 2022: Québec’s real GDP up 4.4%

    For the first five months of 2022, Québec’s real GDP was 4.4% higher than in the same months of 2021. The sectors that contributed the most to this increase are manufacturing (+5.4%), accommodation and food services (+43.3%), professional, scientific and technical services (+5.6%), transportation and warehousing (+11.6%), educational services (+6.0%), and retail trade (+5.0%).

    Change in real GDP by industry in Québec

    Change in real GDP by industry in Québec

    Source: Institut de la statistique du Québec, Direction des statistiques économiques.

    Cumulative real GDP growth1 in Québec

    Cumulative real GDP growth in Québec

    1. GDP growth for the period from January to the reference month compared to the same period in the previous year. The blue bar in December represents cumulative growth for the year that is ending.

    Source: Institut de la statistique du Québec, Direction des statistiques économiques.

    Canada’s real GDP at basic prices remains largely unchanged in May 2022

    According to data published by Statistics Canada on July 29, 2022, Canada’s real GDP at basic prices remained largely unchanged in May 2022 from the previous month. Goods-producing industries fell by 1.0%, while service-producing industries grew 0.4%.

    Real gross domestic product by industry1
    (percentage change)


      2021 2022
     
      Annual change Monthly change Cumulative change2
       
     
        April   May

    Québec 5.6 -0.1   0.1 4.4
    Canada 4.9 0.3   0.0 4.4

    1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonally adjusted and annualized.
    2. First five months of 2022 compared with the same months of 2021.
    Sources: Institut de la statistique du Québec and Statistics Canada.


    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.

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