Canada economy has worst contraction in six years in first quarter

By Leah Schnurr OTTAWA (Reuters) - Canada's economy suffered its biggest contraction in nearly six years in the first quarter with business investment and exports both falling as the country grappled with a steep decline in oil prices, Statistics Canada said on Friday. The 0.6 percent annualized drop in gross domestic product was unexpected with market players forecasting growth of 0.3 percent. The Bank of Canada had forecast no growth in the quarter, though it said performance was likely t