Investing.com – Canada's economy managed slight growth in September, that topped forecasts after coming off a contraction in the prior month, official data showed on Friday.
In a report, Statistics Canada said gross domestic product (GDP) expanded 0.2% in September from a month earlier, beating expectations for a 0.1% rise and better than the prior month’s 0.1% contraction.
Quarter-over-quarter, Canada’s economy expanded at an annualized rate of 1.7% in the third quarter, compared to expectations for growth to ease to 1.6% from prior 4.3% (revised downwards from an initial reading of 4.5%).
After the report, which was released simultaneously with the country’s unemployment rate in November, USD/CAD was trading at 1.2800 from around 1.2878 ahead of the release of the data.