UPDATE 4-Canada economy shrinks in August, clouds outlook
* Growth unexpectedly contracts 0.1 percent from July
* Mining, oil and gas, manufacturing decline most
* Analysts see broad weakness, cutting forecasts
* Bank of Canada seen on hold for longer
By Louise Egan
OTTAWA, Oct 31 (Reuters) - The Canadian economy shrank in August for the first time in six months, an unexpected contraction that pointed to a sharp slowdown in third-quarter growth and reinforced the Bank of Canada's message that interest rate hikes are less imminent.
The 0.1 percent contraction from July reflected broad weakness across most industries as well as temporary shutdowns at some oil and mining sites, Statistics Canada said on Wednesday.
Analysts revised forecasts lower, noting economic pressures that went beyond oil and mining. The Canadian dollar fell. Continued...