Investing.com –Canada's economy grew in line with expectations in December although the fourth quarter expansion beat forecasts, official data showed on Thursday.
In a report, Statistics Canada said gross domestic product (GDP) rose 0.3% in December from a month earlier, in line with forecasts. The Canadian economy expanded 0.5% in November.
Quarter-over-quarter, Canada’s economy expanded at an annualized rate of 2.6% in the fourth quarter, beating expectations for an advance of 2.0% and following growth of 3.8% in the preceding quarter, that was revised upwards from an initial figure of 3.5%.
After the release, that was accompanied by weekly jobless claims in the U.S., USD/CAD was trading at 1.3361 from around 1.3382 ahead of the release of the data.