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Canadian economy shows easing for the first time in 8 months


December, 24 2019
watermark Economic news

Canada's economic indicators unexpectedly fell in October amid a sharp decline in manufacturing and retail sales.


According to Statistics Canada data, GDP in October fell by 0.1% compared with the previous month – to 1.975 trillion Canadian dollars ($ 1.5 trillion). This decline became the first in eight months. Analysts had forecast growth of 0.1% after rising 0.1% in September. In annual terms, the Canadian economy grew by 1.2%.


The most negative impact on the country's economy had a decline in manufacturing (by 1.4%) and in retail trade (by 1.1%).


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.