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- Canada: Real GDP expands by 0.6% MoM in November vs. 0.3% expected
Canada: Real GDP expands by 0.6% MoM in November vs. 0.3% expected
- Canada GDP expanded at 0.6% MoM in November, above expected.
- Q4 annualised GDP growth likely clocked 6.3%, said StatsCan.
Canada's Real Gross Domestic Product (GDP) expanded at a monthly rate of 0.6% in November, data published by Statistics Canada showed on Tuesday. This reading was well above the consensus market forecast for a growth rate of 0.3% MoM and marked a slight deceleration in the 0.8% MoM growth rate seen in October. Statistics Canada said that GDP was most likely unchanged in December on a MoM basis, implying that Q4 GDP growth likely stood at 6.3% annualised.
Market Reaction
The loonie did not see much of a reaction to the latest strong GDP figures.
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