Canadian G-D-P Shrinks

G-D-P shrank by 0.1 per cent in August, setting the stage for the worst quarter of economic activity in more than a year.

Statistics Canada recorded setbacks in 10 out of 18 industrial sectors and Scotiabank economist Derek Holt says temporary factors aren't solely to blame.

Holt believes the Bank of Canada will turn even more dovish in its January monetary policy report, in a manner that takes out any rate hikes any time soon.