FX.co ★ Canada’s economy contracts in October after four months of growth

Canada’s GDP fell in October following four consecutive months of growth.

According to Statistics Canada, the country’s economy contracted by 0.3% in October from September when it grew by 0.4%. The economy fell after rising for four months in a row due to the decline in manufacturing and extraction.

Analysts had predicted no growth in October. Compared with October 2015, the Canadian GDP rose by 1.5% to 1.679 trillion Canadian dollars.