Canada’s Economy Contracted 0.1% in November on Oil Shutdown
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Canada’s gross domestic product posted an unanticipated decline in November, shrinking for the first time in six months on maintenance shutdowns by crude oil producers and lower natural gas extraction.
Output fell 0.1 percent to an annualized C$1.27 trillion ($1.27 trillion) after being little changed in October, Statistics Canada said today in Ottawa. Economists in a Bloomberg survey forecast the economy would grow 0.2 percent, based on the median of 23 responses.