Investing.com - Canada's economy grew more than expected in July, easing concerns over the country’s economic outlook, official data showed on Wednesday.
In a report, Statistics Canada said gross domestic product rose by a seasonally adjusted 0.3% in July, beating forecasts for growth of 0.2%. Canada’s economy grew 0.4% in June, downwardly revised from a previously reported 0.5%.
Year-over-year, Canada’s economy expanded at an annualized rate of 0.8% in July, above expectations for 0.7% and following growth of 0.5% in the preceding month.
USD/CAD was trading at 1.3417 from around 1.3409 ahead of the release of the data.