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- Canadian GDP grew 0.3% in June, rising for the eighth month in a row
Canadian GDP grew 0.3% in June, rising for the eighth month in a row
Real gross domestic product (GDP) grew 0.3% in June, rising for the eighth month in a row as 14 of 20 industrial sectors grew. With the exception of October, GDP has grown every month since June 2016. 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.
Every component of the construction sector increased in June. Residential construction was up 2.7% in June, its largest increase since May 2014. There was higher output related to the construction of single, double, row and apartment housing along with increased activity related to home alterations and improvements.
Non-residential construction grew 2.9% in June, following a 2.0% decline in May, which was largely attributable to the Quebec labour strike. Repair construction was up 1.7% while engineering and other construction grew 1.1%.
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