Canada GDP grows 1% in Q3 as expected

Canada's GDP expanded by 1% in Q3, matching analysts' estimate.
USD/CAD trades modestly higher on the day above 1.4000.

Eren Sengezer FXStreet

Canada's Gross Domestic Product (GDP) expanded at an annual rate of 1% in the third quarter, Statistics Canada reported on Friday. This reading followed the 2.2% growth recorded in the second quarter and matched the market expectation.

On a quarterly basis, the Canadian economy grew by 0.3%, while expanding by 0.1% on a monthly basis in September.

Market reaction

USD/CAD edged higher with the immediate reaction to this report and was last seen gaining 0.1% on the day at 1.4028.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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