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    Québec’s real GDP at basic prices up 0.7% in January 2022

    Québec, April 26, 2022. – In January 2022, Québec’s real gross domestic product (GDP) at basic prices was up 0.7% from the previous month, following a 0.2% increase in December 2021. This was revealed in Produit intérieur brut par industrie au Québec, janvier 2022 published today by the Institut de la statistique du Québec.

    Production of goods up 2.7%

    Output in the goods-producing industries was up 2.7% in January, after rising 0.4% in December. All major goods-producing sectors posted increases in January, particularly construction (+3.3%), manufacturing (+1.5%), and utilities (+4.8%).

    Manufacturing growth was mainly due to the following subsectors: transportation equipment manufacturing (+4.1%), miscellaneous manufacturing (+16.9%), metallic product manufacturing (+4.9%), and machinery manufacturing (+4.8%).

    Service output stable

    In January, output in the service-producing industries remained stable after a 0.1% increase in December. This stability was mainly the result of increases in wholesale trade (+4.7%) and retail trade (+2.4%), combined with decreases in accommodation and food services (-18.7%) and arts, entertainment and recreation (-16.8%) which were due in part to the health situation in January.

    January 2022 versus January 2021: 4.9% increase in Québec’s real GDP  

    In January 2022, Québec’s real GDP was 4.9% higher than in January 2021. The sectors that contributed the most to the GDP increase over this period are retail trade (+16.5%), manufacturing (+5.5%), wholesale trade (+10.7%), educational services (+8.2%), professional, scientific and technical services (+6.3%), and health care and social assistance (+4.8%).

    Changes in real GDP by industry in Québec

    Évolution du PIB réel par industrie au Québec

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

    Cumulative real GDP growth1 in Québec

    Croissance cumulative du PIB réel au 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 up 0.2% in January 2022

    According to data published by Statistics Canada on March 31, 2022, Canada’s real GDP at basic prices increased by 0.2% in January 2022 from the previous month. Output in the goods-producing industries rose by 0.8%, while output in the service-producing industries remained stable.

    Real gross domestic product by industry1

    (percentage change)


      2020 2021 2022
     
      Annual change Annual change Monthly change Cumulative change2
         
     
          January  

    Québec -5.4 6.0   0.7 4.9
    Canada -5.1 4.8   0.2 3.5

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


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