Highlights from Canada GDP by Industry (April 2021)
Overview: With April reference month results, year-over-year (Apr 2021 vs Apr 2020) and year-to-date (Jan-Apr 21 vs Jan-Apr 20) are beginning to show the rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
- Construction activity increased 2.4% in April with increases in all subsectors. Residential building construction rose 4.1% with continued growth driven by single-family home and multi-unit dwelling construction compensating for lower activity in home improvement and renovations.
- Manufacturing real GDP declined 1.0% in April. Durable manufacturing declined 1.8% concentrated in transportation equipment, while non-durable manufacturing decreased 0.2% with five of nine subsectors posting declines.
- Utilities real GDP was down 1.2% with lower electric power generation, transmission and distribution and natural gas distribution. The decline was due to warm weather and reduced industrial and commercial output.
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Prepandemic Comparison:
Amid the COVID-19 pandemic and economic recovery, the largest declines in activity have been in arts, entertainment and recreation (-52.9%), accommodation and food services (-35.5%) and management of companies and enterprises (-21.0%). Activity increased the most in agriculture, forestry, fishing and hunting (+9.4%), finance and insurance (+4.9%) and construction (+4.8%) from February 2020.