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(Kevin Van Paassen/The Globe and Mail)

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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.