WATCH: In a matter of minutes the news of Canada’s shrinking GDP led to the dollar dropping a full cent. Mike Drolet looks at what’s going wrong with our economy.
OTTAWA – Statistics Canada says the country’s gross domestic product declined 0.2 per cent in November compared with the previous month, primarily because of declines in manufacturing and several of the key resource sectors.
The November reading was weaker than expected, although economists had estimated the economy would be flat compared with October.
Statistics Canada says goods production fell 0.8 per cent in November, with significant declines in manufacturing as well as mining and oil and gas.
The agency says output in the construction and service industries were unchanged in November while there were increases from October in the utility, agriculture and forestry sectors.
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