The FINANCIAL — Economic growth in Canada was stagnant in October after shrinking in the previous month, as gains in oil and gas extraction were offset by a decline in manufacturing output, according to Nasdaq.
Canada’s gross-domestic product, or the broadest measure of goods and services produced in the economy, was unchanged at 1.64 trillion Canadian dollars ($1.18 trillion) in October from the previous month, Statistics Canada said on December 23. Market expectations were for a 0.2% rise.
Manufacturing output fell 0.3% in October, after declining 1.0% in the previous month. Contractions in food, beverage and tobacco and plastic and rubber products all contributed to the monthly decline.