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- Canada: Gross Domestic Product expands by 0.1% in November vs. 0% expected
Canada: Gross Domestic Product expands by 0.1% in November vs. 0% expected
- Canadian economy grew by 0.1% on a monthly basis in November.
- USD/CAD holds in positive territory slightly below 1.3450 after the data.
Real Gross Domestic Product (GDP) in Canada grew by 0.1% on a monthly basis in November, the data published by Statistics Canada revealed on Tuesday.
This reading matched October's expansion of 0.1% and came in slightly better than the market expectation of 0%.
"Advance information indicates that real GDP was essentially unchanged in December," Statistics Canada noted in its publication. "Increases in the retail, utilities, and public sectors were offset by decreases in the wholesale, finance and insurance, and mining, quarrying, and oil and gas extraction sectors."
Market reaction
USD/CAD pair edged slightly lower with the initial reaction and was last seen trading at 1.3437, gaining 0.4% on a daily basis.
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