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- Canadian GDP rose 0.3% in March as 15 of 20 industrial sectors grew
Canadian GDP rose 0.3% in March as 15 of 20 industrial sectors grew
Real gross domestic product (GDP) rose 0.3% in March as 15 of 20 industrial sectors grew, led by the mining, quarrying, and oil and gas extraction sector.
The output of goods-producing industries expanded 0.6%, mostly attributable to mining, quarrying, and oil and gas extraction. Manufacturing edged up while construction edged down.
Services-producing industries were up 0.2%, as increases in most sectors more than offset a decline in the finance and insurance sector.
The mining, quarrying and oil and gas extraction sector expanded 1.9% in March as all subsectors grew.
The oil and gas extraction subsector was up 2.1%, the fourth increase in five months. Non-conventional oil extraction rose 3.1% as crude bitumen extraction in Alberta reached a record high 8.9 million cubic metres. Conventional oil and gas extraction rose 1.3% as growth in natural gas extraction more than offset a decline in conventional crude petroleum extraction.
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