Updated from the previous month’s downturn in GDP data, the Canadian economy appears to have reentered expansion this month. Canada’s release of GDP data is unique, however, in that it is published on a month-by-month basis instead of quarterly like other countries. A quarterly release is issued, but it is merely a summary of the monthly reports.
Last month, the figure came in with a dismal reading showing a contraction taking place of roughly 0.3%. This month, though, the figure is back up to an expansionary reading of 0.2%. The Canadian dollar (CAD) doesn’t appear heavily affected by the news thus far, but should see some volatility as the North American trading sessions get further underway.
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