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(Kevin Van Paassen/The Globe and Mail)


Energy sector profits predicted weak GDP report

Friday’s weak Canadian GDP results were no surprise to investors in the domestic energy sector where slowing profit growth provided a clear warning of slower exports.

Statistics Canada reported third-quarter economic expansion of 0.6 per cent, down from the previous quarter’s 1.8-per-cent pace. Canadian consumers held up their end, adding 0.5 per cent to growth but a sharp decline in exports subtracted 0.6 per cent.