OTTAWA, July 28 (Xinhua) -- Canada's real gross domestic product (GDP) decreased 0.2 percent in June following 0.3 percent increase in May, Statistics Canada said on Friday.
According to advance information, the decrease was driven by the wholesale trade and manufacturing sectors, whose downward movements more than offset the increases recorded in May, the national statistical agency said.
These decreases were partially offset by increases in oil and gas extraction as well as in the real estate and rental and leasing sector in June. Oil and gas extraction's increase partially offset the decrease recorded in the previous month which dropped 6.6 percent as a result of the forest fires in Alberta, the agency said.
The fires primarily impacted installations in the western parts of the province, from Edmonton to the Rocky Mountains' Foothills in the Clearwater, Montney and Duvernay formations. These played a crucial role in the industry's largest monthly contraction since April 2020, resulting in a steep drop in both natural gas extraction and crude oil, the agency said.
According to the agency, oil sands extraction decreased 1.6 percent in May 2023. At the same time, pipeline transportation contracted 2.1 percent, reflecting a 3.8 percent decrease in transportation of natural gas and a 0.4 percent decline in crude oil and other pipeline transportation. Support activities for mining and oil and gas extraction decreased 4 percent as all types of supporting activities were down in May.
This advance information indicated a 0.3 percent increase in real GDP by industry in the second quarter of 2023, Statistics Canada said.
