Investing.com - Canada's economy expanded less-than-expected in July, official data showed on Monday.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.6% in July, missing expectations for growth of 1%.
Canada’s economy contracted by 0.5% in June.
Canada’s gross domestic product expanded at an annualized rate of 1.4% in July, beating forecasts for an increase of 1.3%, following growth of 1.1% in the preceding month.
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD shedding 0.21% to trade at 1.0284.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.6% in July, missing expectations for growth of 1%.
Canada’s economy contracted by 0.5% in June.
Canada’s gross domestic product expanded at an annualized rate of 1.4% in July, beating forecasts for an increase of 1.3%, following growth of 1.1% in the preceding month.
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD shedding 0.21% to trade at 1.0284.