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    Québec’s real GDP at basic prices down 0.4% in August 2023

    Québec, November 28, 2023. – In August 2023, Québec’s real gross domestic product (GDP) at basic prices was down 0.4% from the previous month, following a 0.1% increase in July. This was revealed in the publication Produit intérieur brut par industrie au Québec, août 2023 released today by the Institut de la statistique du Québec.

    Goods output down 0.9%

    For the sixth consecutive month, the output of goods-producing industries decreased (-0.9% in August and -0.2% in July). The decline in August was mainly due to the utilities sector (-5.9%), and to a lesser extent, to the mining, quarrying, and oil and gas extraction sector (-2.5%).

    Service production down 0.2%

    In August, output in the service industries decreased by 0.2% after increasing 0.2% in July. The decline in August was attributable to professional, scientific and technical services (-1.0%), retail trade (-0.9%), the information and cultural industries (-1.1%), wholesale trade (-0.7%), and accommodation and food services (-1.6%). In contrast, the transportation and warehousing sector (+0.8%) posted an increase.

    Cumulative total for the first eight months of 2023: Québec’s real GDP up 0.4%

    For the first eight months of 2023, Québec’s real GDP was 0.4% higher than in the same months of 2022. The sectors that contributed the most to this increase are public administration (+3.3%), accommodation and food services (+10.9%), transportation and warehousing (+5.7%), and professional, scientific and technical services (+2.9%).

    Cumulative real GDP growth in Québec

     

    Changes in real GDP by industry in Québec

    Canada’s real GDP at basic prices stable in August 2023

    According to data published on October 31, 2023 by Statistics Canada, Canada’s real GDP at basic prices remained largely unchanged in August (0.0%) for the second consecutive month. Goods-producing industries decreased by 0.2%, while service-producing industries grew by 0.1%.

    Real gross domestic product by industry1
    (percentage change)


      2022 2023
     
      Annual change Monthly change Cumulative change2
       
     
        July   August

    Québec 2.6  0.1   – 0.4 0.4
    Canada 3.6 0.0   0.0 1.7

    1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonally adjusted and annualized.
    2. First eight months of 2023 compared with the same months of 2022.

    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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    Phone: 418-691-2401
    or 1-800-463-4090 (toll-free in Canada and the United States)
    E-mail: cid@stat.gouv.qc.ca

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