According to the data published by Statistics Canada, the real economy in Canada expanded 0.1% on a monthly basis in August after staying flat in July and fell short of the market expectation for a growth of 0.2%.
“Goods-producing industries were up 0.2% after two months of declines, led by a rebound in manufacturing, while services-producing industries edged up 0.1%. Overall, there were gains in 14 out of 20 industrial sectors,” Statistics Canada noted in its press release. “On a three-month rolling average basis, real gross domestic product rose 0.5% in August, compared with a 0.8% increase in July.”
The USD/CAD pair’s reaction to the data was relatively muted and it was last seen trading at 1.3160.
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