Investing.com – Canada's gross domestic product rose in line with expectations in January, official data showed on Thursday.
In a report, Statistics Canada said gross domestic product rose broadly in line with expectations, increasing by a seasonally adjusted 0.5% in January, after rising by 0.5% in December.
Canada’s economy grew at an annualized rate of 3.3% in January, after rising by 3.1% in December, exceeding expectations for a rise of 3.2%.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.05% to hit 0.9705.
In a report, Statistics Canada said gross domestic product rose broadly in line with expectations, increasing by a seasonally adjusted 0.5% in January, after rising by 0.5% in December.
Canada’s economy grew at an annualized rate of 3.3% in January, after rising by 3.1% in December, exceeding expectations for a rise of 3.2%.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.05% to hit 0.9705.