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Gross domestic product by industry
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After growing 0.1% in January, the Canadian economy increased 0.4% in February as energy production returned to a more normal level. Excluding oil and gas extraction and utilities, economic activity grew 0.2%. Both goods and services production rose. Wholesale trade, manufacturing and financial services posted gains. However, these gains were partly offset by declines in construction, retail trade, rail transportation and the accommodation and food services sector.
Increase in output of the energy sector
Electric power generation (+3.4%) as well as oil and natural gas extraction (+3.6%) posted significant gains. Overall, the energy sector advanced for a second consecutive month with a gain of 2.9% in February, following an increase of 2.1% in January. These increases were attributable to a return to more seasonal temperatures after two months of mild weather conditions. Although the February rise in electricity output was significant, it only brought the level of output 0.8% higher than its previous peak reached in July 2006. Natural gas production also rebounded to mid-2006 levels in light of a sharp reduction in inventories. Crude oil output leaped forward as production returned to a level not seen since early 2006. However, oil and gas exploration posted a slight decline (-1.0%).
The output of the mining sector, excluding oil and natural gas, rose 1.5% on the strength of the non-metallic mineral mines (which include diamond mines).
Note to readersThe monthly gross domestic product (GDP) by industry data are chained volume estimates with 1997 as their reference year. This means that the estimates for each industry and aggregate are obtained from a chained volume index multiplied by the industry's value added in 1997. For the period 1997 to 2003, the monthly estimates are benchmarked to annually chained Fisher volume indexes of GDP obtained from the constant-price input-output tables. For the period starting with January 2004, the estimates are derived by chaining a fixed-weight Laspeyres volume index to the prior period. The fixed weights are the industry output and input prices of 2003. This makes the monthly GDP by industry estimates more comparable with the expenditure-based GDP data, chained quarterly. Revisions With this release of monthly GDP by industry, revisions have been made back to January 2006. For more information about monthly GDP by industry, see the National Economic Accounts module on our website (http://www.statcan.gc.ca/nea). |
Industrial production (the output of mines, utilities and factories) advanced 1.3% in February, with all three sectors posting gains. In the United States these three sectors also increased, utilities notably, leading to a growth of 0.8% in industrial production.
Motor vehicle and parts production push manufacturing activities ahead
The manufacturing sector rose 0.3% in February. Motor vehicle and associated parts production were both robust in February after declining in January. Manufacturing activities excluding motor vehicle and parts production decreased 0.2%. The 0.8% gain in the production of durable goods outpaced the 0.4% decline in non-durable goods manufacturing. Of the 21 major manufacturing groups, 10 increased, accounting for 45% of total manufacturing value added.
Motor vehicle manufacturing increased 4.9%, while parts production gained 2.6%. The textile and clothing industries moved forward, as did machinery, plastic and primary metal products manufacturing. However, declines were recorded in chemical, fabricated metal, food, beverage and tobacco products manufacturing.
Construction retreats
The construction sector fell for the first time in eight months in February (-0.2%). A decline in residential construction (-1.4%) was only partially offset by gains in non-residential building construction (+1.0%) and engineering and repair work (+0.2%). Both single-family homes and apartments recorded declines, whereas activity increased on new industrial and commercial buildings.
The home resale market moved higher-priced residences in February, leading to an increase of 0.2% in the activities of real estate agents and brokers.
Wholesale and retail trade
Wholesale trade posted a healthy 1.0% gain in February. This increase was propelled by strong trade in computers and other electronic equipment, household and personal products, pharmaceuticals and petroleum products.
Retail trade slipped 0.7% in February. This decline was due to a slump in new car sales. Excluding new motor vehicle dealers, retail trade increased 0.1%.
A strike in rail transportation hinders exports
A strike by rail employees led to a drop of 5.4% in output of the rail transportation industry. This negatively affected exports in February, and led some enterprises to increase their use of trucking services (+0.6%) to move their goods.
Other industries
Output in the finance and insurance sector grew 0.4%. This gain was fuelled by modest increases in lending activities and mutual fund sales. The accommodation and food services sector retreated for a second consecutive month (-1.0%). The number of overnight visitors to Canada from abroad was down 2.5% compared to January. In particular, overnight visitors from the United States declined 3.5% from the previous month.
Available on CANSIM: tables 379-0017 to 379-0022.
Definitions, data sources and methods: survey number 1301.
The February 2007 issue of Gross Domestic Product by Industry, Vol. 21, no. 2 (15-001-XWE, free) is now available from the Publications module of our website.
Data on gross domestic product by industry for March will be released on May 31.
For general information or to order data, contact our dissemination agent (toll-free 1-800-887-4623; 613-951-4623; iad-Info-dci@statcan.gc.ca). To enquire about the concepts, methods or data quality of this release, contact Bernard Lefrançois (613-951-3622), Industry Accounts Division.
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