Canada April Gross Domestic Product Report (Text)

The following is the text of the April GDP report released by Statistics Canada.

Real gross domestic product grew 0.3% in April, after edging up 0.1% in March. Most of the April increase was attributable to mining and oil and gas extraction and, to a lesser extent, wholesale trade. Transportation services as well as the agriculture, forestry, fishing and hunting sector increased. Retail trade, manufacturing, accommodation and food services and the public sector (education, health, and public administration combined) declined.

Mining and oil and gas extraction rises

Mining and oil and gas extraction rose 2.7% in April after declining 2.0% in February and 1.1% in March. Oil and gas extraction advanced 2.4% in April as crude petroleum production rebounded from maintenance and production difficulties in February and March. Natural gas production was down slightly in April, and storage levels declined for the first time in a year. Support activities for mining and oil and gas extraction increased 5.1% as drilling and rigging services advanced.

Mining excluding oil and gas extraction grew 3.1% in April with increased output at copper, nickel, lead and zinc mines as well as potash mines.

Wholesale trade increases while retail trade is down

Wholesale trade was up 1.2% in April, a fifth consecutive monthly increase. There was notable growth in the wholesaling of agricultural supplies and building materials. In contrast, the wholesaling of farm products and food, beverage and tobacco products declined.

Retail trade fell 0.8% in April after increasing 0.5% in March. Output decreased at clothing and clothing accessories stores, new car dealers as well as general merchandise stores (which include department stores). Conversely, retailing activity at health and personal care stores and gasoline stations was up.

Manufacturing declines

Manufacturing declined 0.3% in April. Durable goods production decreased 0.5% as a result of lower output of fabricated metal products and non-metallic mineral products, which outweighed gains in primary metals and machinery manufacturing. The manufacturing of non-durable goods was unchanged in April, as increased production of petroleum and coal products and chemical products was offset by declines in textiles, clothing and food products.

Transportation and warehousing services increase

Transportation and warehousing services rose 0.7%, as trucking and rail transportation benefited from the strength in mining and wholesale trade.

Construction edges down

Construction edged down 0.1% in April as declines in residential construction and repair works outweighed gains in non-residential building and engineering construction. In contrast, the output of real estate agents and brokers (+1.2%) was up for a third consecutive month as activity in the home resale market continued to increase.

Other industries

There were increases in the agriculture, forestry, fishing and hunting sector in April. The public sector edged down 0.1%, primarily as a result of declines in public administration. Accommodation and food services as well as the arts, entertainment and recreation sector also decreased in April.

Note to readers

The monthly gross domestic product (GDP) by industry data at basic prices are chained volume estimates with 2002 as the reference year. This means that the data for each industry and each aggregate are obtained from a chained volume index multiplied by the industry’s value added in 2002. For the 1997 to 2008 period, the monthly data are benchmarked to annually chained Fisher volume indexes of GDP obtained from the constant- price input-output tables.

For the period starting with January 2009, the data are derived by chaining a fixed-weight Laspeyres volume index to the prior period. The fixed weights are 2008 industry prices.

This approach makes the monthly GDP by industry data more comparable with the expenditure-based GDP data, chained quarterly.

To contact the reporter on this story: Ilan Kolet in Ottawa at ikolet@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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