After declining, Québec’s gross domestic product (GDP) rose slightly in August, mainly due to observed increases in the construction and mining sectors.
Quebec’s GDP increased by 0.1% in August 2022 after falling by 0.4% in July, according to the Institut de la statistique du Québec (ISQ).
Output levels in service industries rose 0.1% in August after falling 0.1% in July.
In fact, wholesale (+2.2%), retail (+1.6%) and public administration (+0.7%) recorded the most notable increases, offsetting the observed declines in health and social care (-0.6 %) and balance in education (-0.6%) and professional, scientific and technical services (-0.4%) .
Manufacturing output levels in August were unchanged month-on-month after four straight months of decline. Gains in construction (+3.1%) and mining, quarrying and oil & gas exploration (+4.3%) were offset by declines in manufacturing (-2.3%).
3.5% year-to-date increase
In the first eight months of 2022, Quebec’s real GDP is 3.5% higher than in the same months of 2021, the ISQ also added.
Manufacturing (+3.8%), hotels and restaurants (+28.8%), education (+6.6%), professional, scientific and technical services (+5.6%), transport and storage ( +11.2%) and retail (+4.9%) contributed significantly to this growth.
According to Statistics Canada, Canadian real GDP at manufacturing prices increased by 0.1% month-on-month in August 2022.
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