Economy shrinks in second quarter, worst showing since financial crisis

By Craig Wong, The Canadian Press, August 31, 2016 

OTTAWA — The Canadian economy shrivelled in the second quarter to its worst performance in seven years, Statistics Canada said Wednesday.

The federal agency said real gross domestic product fell at an annualized rate of 1.6 per cent in the three-month period, due in large part to the wildfires that destroyed parts of Fort McMurray, Alta.

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