OTTAWA, Ont. — For the second month in a row, growth in the Canadian economy was at a standstill in October.
Although total growth for the Canadian economy remained locked at 0%, transportation managed 0.6% GDP growth in October from the previous month, its largest monthly growth spurt since May.
Still there should be concern considering the sudden troubles faced by some of the industry’s best customers. Industrial production (the output of Canada’s factories, mines and utilities) decreased by 0.2% in October, Statistics Canada data released today revealed. Manufacturers and utilities reduced their output by 0.3%. The output of the mining sector however increased 0.2% due to intense oil and gas exploration activities and to the resolution of a labour dispute.
In the United States, the Index of industrial production rose 0.6% in October, with all three sectors showing strength.
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