According to preliminary figures, real gross domestic product (GDP) increased by 1.1% during the second quarter of 2022, Statistics Canada revealed on Friday morning. The final figures will be revealed on August 31.
Posted at 8:50 a.m.
“Advance information shows real GDP rose 0.1% in June, driven by higher output in construction, manufacturing, and accommodation and food services,” indicates the federal agency.
In May, real GDP was essentially unchanged, after rising 0.3% in April. Goods production fell 1%, but services rose 0.4%.
Among the sectors that stood out on the upside or downside, the transportation and warehousing sector rose 1.9% in May, up for the fourth month in a row. However, the sector was around 7% lower than before the COVID-19 pandemic.
Manufacturing fell for the first time in eight months with a 1.7% drop in May, after recording seven months of growth.
Construction fell for the second month in a row, down 1.6% in May, no doubt due to the strike by unionized construction workers in Ontario.
Further details will follow.