TORONTO - The Toronto stock market was
set for a lower open Friday as the latest economic growth data pointed
to slowing economic growth at the end of last year.
Statistics Canada says gross domestic product in November declined 0.2 per cent, worse than the flat showing that economists had expected. GDP had risen 0.3 per cent in the prior month. The agency said the drop extended across major sectors including manufacturing and mining, quarrying, and oil and gas extraction.
There were also further indications of the damage caused to the energy and financial sectors by the collapse in oil prices.
The Canadian dollar fell to fresh six-year lows on the data, losing 0.45 of a cent to 78.85 cents US.
Read more at Click here / www.trade4x.net
Statistics Canada says gross domestic product in November declined 0.2 per cent, worse than the flat showing that economists had expected. GDP had risen 0.3 per cent in the prior month. The agency said the drop extended across major sectors including manufacturing and mining, quarrying, and oil and gas extraction.
There were also further indications of the damage caused to the energy and financial sectors by the collapse in oil prices.
The Canadian dollar fell to fresh six-year lows on the data, losing 0.45 of a cent to 78.85 cents US.
Read more at Click here / www.trade4x.net
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