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Canadian GDP dips in May

OTTAWA, July 29 (UPI) -- Canada's gross domestic product dipped by 0.3 percent in May, based mostly on sagging performance in mining and oil and gas extraction, Statistics Canada said.

"After two consecutive monthly increases, mining, oil and gas extraction fell 5.3 percent in May," the agency said. "Output of copper, nickel, lead and zinc mines declined 9.6 percent, following a 6.1 percent gain in April."

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The report said oil refinery output was "significantly reduced" because of widespread scheduled maintenance shutdowns across the country

Manufacturing declined 0.4 percent in May and construction dipped 0.3 percent.

Overall wholesale trade advanced 1 percent and retail trade increased by 0.2 percent, StatsCan said.

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