Canada: Real GDP expands by 0.1% in October as expected

Canadian economy expanded by 0.1% in October as expected.
USD/CAD continues to trade in negative territory near 1.3600.

Eren Sengezer FXStreet

Real Gross Domestic Product of Canada grew by 0.1% on a monthly basis in October, Statistics Canada reported on Friday. This reading followed September's 0.2% growth and came in line with the market expectation.

"Advance information indicates that real GDP increased 0.1% in November," Statistics Canada added in its publication. "Increases in the utilities, wholesale, and finance and insurance sectors were partially offset by decreases in the construction, retail, and mining, quarrying, and oil and gas extraction sectors."

Market reaction

USD/CAD showed no immediate reaction to this report and was last seen trading near 1.3600, where it was down 0.35% on a daily basis.

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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