Skip to main content

The Canadian economy grew by 0.2 per cent in October after slipping 0.1 per cent in September with a 2.4-per-cent increase in mining and oil and gas driving growth for the month, according to Statistics Canada.

Real estate agents and brokers, the public sector, wholesale trade and transportation also showed growth.

There were declines in manufacturing, construction, utilities, retail trade and the finance and insurance sectors.

Manufacturing slipped 0.6 per cent in October. Production of non-durable goods was off by 2.3 per cent, while durable goods increased by 0.8 per cent.

Refinery output was down because of maintenance requirements. Production was also lower at pharmaceutical plants.

Makers of motor vehicles and associated parts increased production.

On the whole, manufacturers reduced inventories in October to help meet demand

The home resale market pushed up business for real estate agents and brokers by 5.1 per cent, although home construction fell 1.7 per cent.

Wholesale trade grew 0.5 per cent, driven by better sales of motor vehicles and parts and personal and household goods. These gains were partly offset by reduced wholesale of machinery and equipment.

Retail trade fell 0.4 per cent after an increase in September. The October decline was largely attributed to reduced sales at clothing stores and general merchandise stores, including department stores.

There were increased sales of furniture, home furnishings and electronics.

Output in the finance and insurance sector slipped 0.3 per cent due to reduced trade volumes on the stock exchanges and lower activity in the insurance sector. Banking activities were unchanged.