Canadian GDP Growth In June Blasts Past Expectations

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Includes: CNDA, EWC, EWCS, FCAN, HEWC, QCAN
by: Investing.com

Canada's economy grew more than expected in June, official data showed on Thursday.

In a report, Statistics Canada said gross domestic product (GDP) rose 0.3% in June from a month earlier, beating expectations for a 0.1% rise and compared to the prior month's expansion of 0.6%.

Quarter over quarter, Canada's economy expanded at an annualized rate of 4.5% in the second quarter, smashing expectations for it to remain in line with the 3.7% expansion reported for the first three months of the year.

After the report, which was released simultaneously with the U.S. core PCE price index, personal income and spending, and jobless claims, USD/CAD was trading at 1.2586 from around 1.2657 ahead of the release of the data.

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