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

    Québec, May 25, 2022. – In February 2022, Québec’s real gross domestic product (GDP) at basic prices was up 0.7% from the previous month, following a 0.8% increase in January. This was revealed in Produit intérieur brut par industrie au Québec, février 2022 released today by the Institut de la statistique du Québec.

    Service production up 0.9%

    In February, service industries were up 0.9% after a 0.2% decline in January. The increase in February came mainly from accommodation and food services (+24.8%), health care and social assistance (+1.8%), public administration (+1.7%), and transportation and warehousing (+3.0%). In contrast, wholesale trade fell by 3.7% in February.

    Goods production stable

    Output in the goods-producing industries remained relatively stable in February following a 3.6% gain in January. This stability was mainly the result of an increase in construction (+4.3%) that was offset by decreases in manufacturing (-1.8%) and utilities (-3.2%).

    The decline in manufacturing came mainly from drops in non-metallic mineral product manufacturing (-9.8%), food manufacturing (-3.0%), and plastics and rubber products manufacturing (-4.6%).

    Cumulative total for the first two months of 2022: Québec’s real GDP up 4.7%

    For the first two months of 2022, Québec’s real GDP was 4.7% higher than in the same months of 2021. The sectors that contributed the most to this increase are manufacturing (+6.2%), retail trade (+9.4%), wholesale trade (+8.1%), accommodation and food services (+33.0%), and professional, scientific and technical services (+5.4%).

    Change in real GDP per industry in Québec

    Change in real GDP per 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 up 1.1% in February 2022

    According to data published by Statistics Canada on April 29, 2022, Canada’s real GDP at basic prices increased by 1.1% in February 2022 from the previous month. Goods-producing industries rose by 1.5%, while service-producing industries grew 0.9%.

    Real gross domestic product by industry1
    (percentage change)


      2021 2022
     
      Annual change Monthly change Cumulative change2
       
     
        January February  

    Québec 5.6 0.8   0.7 4.7
    Canada 4.8 0.2   1.1 4.1

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


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