Canada's economy unexpectedly shrinks by 0.2 percent in November

Canada's economy unexpectedly shrank by 0.2 percent in November on weaker manufacturing, mining and oil and gas extraction, Statistics Canada data indicated on Friday. Last week the Bank of Canada shocked markets by lowering its key interest rate to counter a slump in oil prices that has cut growth and dragged the Canadian dollar down to more than five-year lows against the greenback. Mining, quarrying, and oil and gas extraction fell by 1.5 percent.