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    Québec’s real GDP at basic prices up 0.6% in November 2020

    Québec, February 23, 2021. – In November 2020, Québec’s real gross domestic product (GDP) at basic prices was up 0.6%, following a 0.4% decline in October. This was revealed in the publication Produit intérieur brut par industrie au Québec, novembre 2020 released today by the Institut de la statistique du Québec.

    Despite this increase, the GDP level in November remained at about 97% of the level in February.

    Production of goods increases 1.2%

    Goods-producing industries were up 1.2% in November, after declining 0.8% in October. The increase in goods production in November came from manufacturing (+2.6%) and construction (+2.8%). As for the utilities sector, it posted a 6.8% drop in November.

    Sixteen of the nineteen manufacturing subsectors contributed to the increase in November, including fabricated metal product manufacturing (+8.6%), computer and electronic product manufacturing (+16.7%), and plastics and rubber products manufacturing (+7.5%).

    Service output rises 0.4%

    Service-producing industries rose 0.4% in November, after declining 0.3% in October. The service sectors that contributed the most to the growth in November are retail trade (+2.4%), finance and insurance (+1.4%) and health care and social assistance (+1.1%). In contrast, accommodation and food services (-4.9%) and arts, entertainment and recreation (-10.2%) recorded significant declines.

    Cumulative total for the first eleven months of 2020: Québec’s real GDP down 5.5%

    For the first eleven months of 2020, Québec’s real GDP was 5.5% lower than in the same period in 2019. Several sectors experienced significant cumulative losses during this period, including manufacturing (-9.8%), transportation and warehousing (-19.6%), construction (-11.9%), accommodation and food services (-30.9%), and educational services (-8.6%).

    Changes in real GDP by industry in Québec

    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

    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. 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 0.7% in November 2020

    According to data published by Statistics Canada on January 29, 2021, Canada’s real GDP at basic prices grew 0.7% in November 2020. Goods-producing industries and service-producing industries rose by 1.2% and 0.5%, respectively. For the first eleven months of 2020, Canada’s real GDP was 5.3% lower than in the same period in 2019.

    Real gross domestic product by industry1
    (percentage variation)

      2019   2020
     
     
      Annual change   Monthly change Cumulative change2
         
     
          October November  

    Québec 2.7   -0.4 0.6 -5.5
    Canada 1.8   0.4 0.7 -5.3

    1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2012), seasonally adjusted and annualized.
    2. First eleven months of 2020 compared with the same months in 2019.
    Sources: Institut de la statistique du Québec and Statistics Canada


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