Manufacturing up again in October

For the fourth consecutive month, Canada’s economy grew in October, Statistics Canada reports. GDP grew by 0.3 per cent in October, with significant gains in manufacturing and service industries. In the goods producing industries, the growth was 0.4 per cent, mainly as a result of manufacturing. The annualized rate is 2.7 per cent, the highest since May, 2012 and higher than the Bank of Canada has forecast for the fourth quarter of the year. The central bank called for a 2.0 per cent rise in October, and a 1.6 per cent annual rise for 2013.

Manufacturing output increased 1.3 per cent in October, after a 1.2 per cent rise in September. Durable goods were up 0.5 per cent on the strength of transportation equipment and primary metal. In the non-durable goods category of the manufacturing sector, the increase was higher still: 2.3 per cent, due mainly to increases in the manufacture of chemical, food and beverage and tobacco products.

manufacturing-Canada-Statistics-durable-goods-economy-GDP-EDIWeekly
Source: Statistics Canada

The growth in manufacturing could be the result of higher exports in response to higher US demand and the weaker Canadian dollar.

Wholesale trade, mainly of machinery, equipment and supplies, also grew for a fourth consecutive month, posting a 1.4 per gain in October. Retail trade saw notable gains at food and beverage stores, electronics and appliance stores, and health and personal care stores. Retailing of cars and trucks and auto parts, however, was down.

Several industries saw no change in October: mining, quarrying and gas extraction were unchanged, but support activities for oil and gas extraction grew 3.0 per cent. Construction was also unchanged in October.

Did you miss this?

Other Popular Stories

  • Keystone: will it all come down to emissions?
  • Airbus Tests Self-Flying Taxi
  • Canada's oil industry facing labour shortage: survey
  • Manufacturing sector faced difficult conditions in September: survey
  • Astronauts Harvest Radishes on Space Station
  • North American oil and gas industry has trouble finding workers
  • Researcher designs valve that could help power deep space flight
  • Federal government urged to speak up for nuclear at Paris climate talks
  • Manufacturing index rises, conditions "robust" in October: RBC
  • Anticipation building for first test flight of Bombardier CSeries
  • Women wanted in construction trades as "tremendous opportunity" exists
  • Valves essential component of safe oil pipeline
  • Magna producing first all-olefin liftgate assembly for Nissan Rogue
  • Advanced manufacturing initiatives to drive innovation, growth
  • Mississauga aerospace firm announces major contracts with Boeing, F-35 program
  • One sweet ride: a biodegradable auto made of sugar beets and flax — but what about mice?
  • Higher efficiency solar cells within reach
  • Canada's wholesale sales rose 0.7 per cent in June, to $56.4 billion
  • Canada one of the world’s most energy-intensive countries: 15 percent energy reduction possible through lighting, computer and HVAC retrofitting: Conference Board of Canada Report
  • NASA Invests in Concept Development for Missions
Scroll to Top