Investing.com - Canada's economy expanded in line with expectations in May, recording growth for the fifth consecutive month, official data showed on Wednesday.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.2% in May, broadly in line with market expectations.
Canada’s economy grew by 0.1% in April.
Canada’s gross domestic product expanded at an annualized rate of 1.6% in May, matching forecasts, following growth of 1.4% in the preceding month.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.17% to trade at 1.0323.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.2% in May, broadly in line with market expectations.
Canada’s economy grew by 0.1% in April.
Canada’s gross domestic product expanded at an annualized rate of 1.6% in May, matching forecasts, following growth of 1.4% in the preceding month.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.17% to trade at 1.0323.