Canada’s economy declined unexpectedly in August for the first time in eight months, led by a slump in energy and manufacturing activity, providing little reason for policymakers to alter their holding pattern on interest rates.

Gross domestic output fell 0.1% during the month, Statistics Canada said Friday.

Economists had expected marginal growth of zero to 0.1% in August, following flat output the previous month and a six-month string of increases from the start of the year. In December, GDP weakened by 0.4%.

“After an unchanged reading in July, GDP surprised to the downside by falling slightly in August,” said HSBC Bank Canada economist.

via Canada’s economy unexpectedly shifts into reverse in August after months of gains.