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Canadian economy posts positive third-quarter growth in spite of a dismal September

Published by Brad Fougere on December 01, 2015

Canadian Manufacturers & Exporters Director of Policy and Economics Mike Holden's GDP report for September 2015 outlines that while the Canadian economy did indeed emerge from recession in Q3, the economy dropped half a per cent in September.

While the oil-producing provinces were the hardest hit, across the country manufacturing GDP tumbled. In fact, only primary metals notched positive growth in September.

An overview of the hardest hit sectors:

  • GDP in oil and gas extraction fell by 5.5 per cent in just one month. The decline was especially severe in the oil sands where GDP was 9.4 per cent lower compared to August.
  • Among Canada’s most important sub-sectors, losses ranged from 0.3 per cent in machinery production to 2.2 per cent in motor vehicles.

Monthly GDP growth by mfg sector chart

View the full Manufacturing GDP Analysis – September 2015

 

Found in: gdp

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Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan