Peak Oil News and Message Boards

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