Canadian Economy Shrinks In October

Canada’s economy contracted a less-than-anticipated 0.1% in October as wholesalers processed fewer shipments of automobiles and factory production dropped, Bloomberg reported. Wholesaling declined 2.7% as automotive sales decreased and manufacturing fell 0.7%, the third drop in five months, Statistics Canada said. Economists surveyed by Bloomberg said Canada’s gross domestic product (GDP) would dip in coming months by 0.4%.