Gross domestic product unchanged in October after four monthly increases: StatsCan
January 3, 2012 | By The Canadian Press
Real gross domestic product was unchanged in October after four straight monthly increases.
Statistics Canada reports the output of goods-producing industries fell 0.2 percent due to declines in utilities, construction, mining and oil-and-gas extraction. The agency says these declines offset a gain in manufacturing.
Services increased 0.2 percent, led by retail trade and, to a lesser extent, finance and insurance, the public sector and professional services. Wholesale trade and some tourism-related industries also fell.
The utilities sector decreased 1.5 percent in October, mining and oil-and-gas extraction declined 0.2, construction decreased 0.4, and wholesale trade fell 0.3 percent.
Existing-homes sales increased across the country, while manufacturing production rose 0.3 percent, retail trade was up 0.6 and the finance and insurance sector rose 0.3 percent.
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