Canadian economy screeches to a halt in October


By Louise Egan OTTAWA, Dec 21 (Reuters) - Canada's economy is getting pummeled by the U.S. slowdown, reports showed on Thursday, prompting economists to cut their growth forecasts but unlikely to force the Bank of Canada to cut rates in January. Economic activity stagnated in October after falling 0.4 percent in September and retail sales in the same month fell a steeper-than-expected 0.7 percent, Statistics Canada said. Both reports disappointed market expectations and rattled the ...

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