Home Canada: Real GDP grows by 1.1% in March vs. 1% expected
FXStreet News

Canada: Real GDP grows by 1.1% in March vs. 1% expected

  • Canadian economy continued to grow at a modest pace in March.
  • USD/CAD pair stays in the negative territory below 1.2050 after the data.

Canada’s Real Gross Domestic Product (GDP) expanded at a monthly rate of 1.1% in March, the data published by Statistics Canada showed on Tuesday. This reading came in slightly higher than the market expectation of 1% and followed February’s growth of 0.4%.

On a quarterly basis, the Canadian economy grew by 5.6% in the first quarter, compared to analysts’ estimate of 6.7%.

Market reaction

The USD/CAD pair showed no immediate reaction to this report and was last seen losing 0.24% on a daily basis at 1.2033.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.