- The Canadian economy grew faster than expected in January.
- USD / CAD is trading modestly down around 1.2600 after the data.
Canada’s real GDP gross domestic product expanded 0.7% in January, as data released by Statistics Canada on Wednesday showed. This reading arrives after the December growth of 0.1% and has been better than the market expectation of 0.5%.
“This ninth consecutive monthly increase continued to offset the steeper declines in Canadian economic activity seen in March and April 2020,” the publication read. “Nevertheless, total economic activity is about 3% below the February level before the COVID-19 pandemic“.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
