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Trade News

September 01, 2017

Canada's gross domestic product grew 0.3% in June

Statistics Canada announced that the country's gross domestic product (GDP) grew 0.3% in June, rising for the eighth month in a row as 14 of 20 industrial sectors grew.

According to the Federal agency, goods-producing industries rose 0.5% while service producing industries edged up 0.2%.

The construction sector (+2.0%) was the main contributor to the increase in June, posting its largest gain since July 2013. The increase in the sector more than offset the decline in May, which was partly due to a strike in the last week of that month by unionized construction workers in Quebec.

The retail trade sector grew for the sixth month in a row, up 0.8% in June as 9 of 12 subsectors increased. The most significant gains in activity were at general merchandise stores, clothing and clothing accessories stores and building materials and garden equipment and supplies dealers.

The transportation and warehousing sector (+0.6%) expanded in June, up for the fourth month in a row, as the majority of subsectors grew. Rail transportation increased 3.9% on higher shipments of coal, grain and fertilizer, metal and minerals and intermodal freight. Air transportation grew 2.8%.