OTTAWA (Reuters) – The Canadian economy grew by 0.1% in October versus September, meeting expectations, with another 0.1% increase in GDP seen likely in November, Statistics Canada data showed on Friday.
Analysts polled by Reuters had forecast GDP would rise 0.1% in October from September.
The service producing sector gained by 0.3%, led by gains in public sector, wholesale and client-facing industries, and more-than offset a contraction in goods-producing industries, Statistics Canada said.
Goods-producing industries posted a 0.7% decrease in October after four continuous months of growth, mainly due to a decrease in mining, quarrying, and oil and gas extraction and weakening in the manufacturing sector.
In a preliminary estimate for November, Statistics Canada said GDP likely increased 0.1% in November, driven by gains in sectors including utilities and wholesale trade that are expected be partially offset by decline in construction, retail trade and mining.
The Canadian dollar was trading at 1.3610 to the U.S. dollar, or 73.48 U.S. cents.
(Reporting by Ismail Shakil and Dale Smith in Ottawa. Editing by Jane Merriman)
