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Canada’s Economy Unexpectedly Stalls as Oil Production Drops

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Canada’s Economy Unexpectedly Stalls as Oil Production Drops

Unread postby AdamB » Sat 23 Dec 2017, 11:29:19


Canada’s economy unexpectedly stalled in October on a decline in oil output, a disappointing kickoff to the final quarter of 2017. Gross domestic product was unchanged from September, Statistics Canada reported Friday in Ottawa, weighed down by a 3.5 percent drop in production by oil sands companies. Economists surveyed by Bloomberg News had forecast a 0.2 percent gain for October. The report may cast doubt on the economy’s ability to end a stellar year with any momentum. Economists, including those at the Bank of Canada, had anticipated growth would accelerate in the fourth quarter, after a slowdown in the middle part of the year. Erik Hertzberg/Bloomberg The currency dropped by as much as 0.5 percent after the report. Investors are betting the Bank of Canada will raise rates as many as three times next year, as the economy continues to grow at a strong


Canada’s Economy Unexpectedly Stalls as Oil Production Drops
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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