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Canadian GDP down 0.2% in November

January 30, 2015

Canada’s gross domestic product declined 0.2 percent in November, Statistics Canada reported today. The decline was largely the result of declines in manufacturing, mining, and oil and gas extraction.

Goods production fell 0.8% in November, with notable decreases recorded in manufacturing and mining, quarrying, and oil and gas extraction.

In contrast, utilities and the agriculture and forestry sector increased.

Construction was unchanged in November.

The output of service industries was also unchanged, as increases in retail trade and the public sector (education, health and public administration combined) were offset by declines in other areas. Notable decreases occurred in wholesale trade and the finance and insurance sector.