Canada’s economy shrinks 0.1% in October, StatsCan reports

Canada’s economy somewhat shrank in Oct with genuine sum domestic product circumference down 0.1 per cent, Statistics Canada reports. 

This outlines a initial decrease in 8 months. 

Economists had projected a prosaic GDP news for Oct compared with September, according to financial markets information organisation Refinitiv.

The prolongation zone was down for a fourth time in 5 months, disappearing by 1.4 per cent with travel apparatus prolongation constrictive a many during 2.5 per cent. The United Auto Workers (UAW) strike in a U.S. caused Canada to scale behind prolongation contributing to a decline. 

Retail trade declined 1.1 per cent—it’s largest decrease in 3 years, while indiscriminate trade declined one per cent. 

Some sectors and other industries edged adult this month with oil prolongation augmenting by 0.1 per cent and genuine estate gaining 0.7 per cent. 

Article source: https://www.cbc.ca/news/business/gdp-october-2019-stats-canada-1.5406578?cmp=rss