News Story

Canadian Economy Contracted by 0.1% in September

– Canada's economy unexpectedly contracted in September, official data showed on Wednesday.

In a report, Statistics Canada said gross domestic product (GDP) contracted 0.1% in September from a month earlier.

Analysts had forecast a 0.1% rise.

In August the Canadian economy expanded by 0.1%.

Quarter-over-quarter, Canada’s economy expanded at an annualized rate of 2.0% in the third quarter, in line with expectations but down from the 2.9% growth seen in the second quarter.

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