Canada economy unexpectedly contracts in first quarter, investment dips

Canada's economy unexpectedly took a step back in the first quarter with its biggest contraction in nearly six years as business investment and exports fell, data from Statistics Canada showed on Friday. Economic output slowed faster than the Bank of Canada's forecast for no growth, though the bank had flagged that the quarter was likely to be "atrocious" as oil-exporting Canada felt the pain from lower crude prices.