Investing.com - Canada's economy grew more than expected in December, easing concerns over the country’s economic outlook, official data showed on Tuesday.
In a report, Statistics Canada said gross domestic product increased 0.3% in December, above forecasts for growth of 0.1%. Canada’s economy contracted 0.2% in November.
Canada’s gross domestic product expanded at an annualized rate of 2.4% in December, beating expectations for growth of 2.2% and following growth of 3.2% in the preceding month.
USD/CAD was trading at 1.2459 from around 1.2505 ahead of the release of the data.