Investing.com – Growth in Canada's economy strengthened for the fourth consecutive month in January, beating the consensus estimate, official data showed on Thursday.
In a report, Statistics Canada said gross domestic product expanded 0.6% in January from a month earlier, higher than forecasts for growth of 0.3%. Canada’s economy grew 0.2% in December.
Manufacturing, retail trade, and mining, quarrying, and oil and gas extraction were major contributors to growth in January.
The loonie strengthened after the release, with the USD/CAD trading at 1.2923 from around 1.2936 ahead of the release of the data.