Canada’s economy is estimated to have contracted 0.1% in September, putting preliminary annualized real growth by industry in the third quarter at 1.3%, below the Bank of Canada’s latest 2% projection. Statistics Canada said real gross domestic product by industry was unchanged in August from July, at C$2.372 trillion, equivalent to US$1.695 trillion, after no growth in July and below analysts’ 0.2% forecast. Nine of 20 industrial sectors expanded. Retail sales rebounded 1.2%, manufacturing increased 0.3%, and construction and transportation activity strengthened, while wholesale trade fell 1.4%, oil and gas extraction declined 1.2%, and public administration weakened. The services-producing sector contracted 0.1%, while goods-producing industries grew 0.1%. Statistics Canada’s September figure is preliminary and will be updated on November 30 alongside the official September industry GDP data and third-quarter estimate. The Bank of Canada raised its key interest rate by 25 basis points to 2.50% on Wednesday, while money markets priced in a December hold and a possible increase to 2.75% in January.