Canada's economy shrank in November as many sectors contracted

Canada's gross domestic product declined by 0.1 per cent in November, as everything from manufacturing toconstruction, oil and gas, and finance all shrank.

Statistics Canada reported Thursday the economy seems to have see-sawedin the three months up to November shrinking by 0.1 per cent in September, then growing by 0.3 per cent in October before shrinking again.

Thirteen out of 20 subsectors of the economy eked out gains, but they were overshadowed by contractions in some of the more high-profile parts of the economy.

Wholesale trade shrank by1.1per cent, while manufacturing was down by 0.5 per cent. The oil and gas sector shrank by1.6 per cent. The finance and insurance sector declined by 0.7 per cent, while construction fell for the sixth month in a row.

On the upside, accommodation and food services grew by0.6 per cent, utilities grew by0.4per cent and the public sector expanded by 0.2 per cent.