After declining, the gross domestic product (GDP) rose slightly in Quebec in August, due in particular to the increases observed in the construction and mining sectors.
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GDP thus increased by 0.1% in Quebec in August 2022, following a drop of 0.4% in July, according to the Institut de la statistique du Québec (ISQ).
The level of production in service industries rose 0.1% in August, following a 0.1% drop in July.
Indeed, wholesale trade (+2.2%), retail trade (+1.6%) and public administration (+0.7%) posted the most notable increases, which offset the declines observed in health care and social assistance (-0.6%), educational services (-0.6%) and professional, scientific and technical services (-0.4%) .
The level of production in the goods industries remained unchanged in August from the previous month, after four consecutive monthly declines. Gains in construction (+3.1%) and mining, quarrying, and oil and gas extraction (+4.3%) were offset by the decline in the manufacturing sector (-2.3%).
3.5% increase since the beginning of the year
For the first eight months of 2022, Quebec’s real GDP is 3.5% higher than that of the same months of 2021, also added the ISQ.
Manufacturing (+3.8%), accommodation and food services (+28.8%), educational services (+6.6%), professional, scientific and technical services ( +5.6%), transportation and warehousing (+11.2%) and retail trade (+4.9%) notably contributed to this growth.
According to information published by Statistics Canada, Canadian real GDP at basic prices increased by 0.1% in August 2022, compared to the previous month.