UPDATE 1-Canada Aug GDP drops, BoC growth forecast in doubt

Newswire

(Adds details) OTTAWA, Oct 30 (Reuters) - Canada's gross domestic product unexpectedly shrank by 0.1 percent in August from July, casting serious doubt on the Bank of Canada's forecast for economic growth in the third quarter. Analysts polled in advance by Reuters had expected a 0.1 percent increase after unchanged growth in July. Statistics Canada said on Friday that lower oil and gas production were the main reasons for the decline. The Bank of Canada last week predicted annualised ...

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