MNI: 5 Things We Learned From Canadian GDP Data>

     OTTAWA (MNI) - The following are the key points from the October 

data on Canadian GDP released Friday by Statistics Canada: 

     - October GDP was flat after edging up 0.2% in September, while 

analysts in a MNI survey had expected a 0.1% gain. Year-over-year GDP 

growth still picked up to 3.4% from 3.3%. 

     - A 0.2% monthly expansion in services was offset by a 0.4% drop in 

goods-producing industries. 

     - October's weakness had much to do with energy, as mining, 

quarrying, and oil and gas extraction contracted 1.1%, and utilities 

fell 1.3%. Overall energy production contracted 0.9%. GDP excluding 

energy was up 0.1%, the same pace as in September. 

     - Within the goods sector, only manufacturing posted an increase 

(+0.1%), as a 0.1% decrease in durable manufacturing was more than 

offset by a 0.3% gain in non-durables. 

     - Within services, gains were led by wholesale trade (+1.4%) and 

retail trade (+1.1%). Public sector output was flat, with public 

administration down 0.1%, the first decrease since October 2016. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

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