Canada’s Economic Rebound Sapped by September Oil Surprise
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Canada’s economy unexpectedly contracted in September as fires and maintenance shutdowns interrupted oil production, marring a report that showed the first quarterly expansion this year and calling into question the outlook.
Gross domestic product grew at a 2.3 percent pace in the July through September period, Statistics Canada reported Tuesday from Ottawa. It shrank 0.5 percent in September, a decline that exceeded all 22 forecasts in a Bloomberg survey.