Wednesday, 31 October 2012



Canadian economy shrank in August

Posted: Oct 31, 2012

Canada's economy contracted for the first time in six months, with August figures showing it shrank 0.1 per cent compared to July.
Statistics Canada said Wednesday that the service sector was unchanged, but led by declines in mining, oil and gas, and manufacturing, the goods-producing sector shrank by 0.5 per cent.
Economists had been expecting a slight gain of 0.2 per cent overall.

With the poor showing, Canada posted its slowest annual pace of growth in more than two years

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