Investing.com - Canada''s economy grew less than expected in April, sparking concerns over the country’s economic outlook, official data showed on Monday.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.1% in April, below forecasts for a 0.2% increase. Canada’s economy grew by 0.1% in March.
Canada’s gross domestic product expanded at an annualized rate of 2.1% in April, missing expectations for a reading of 2.3% and following growth of 2.1% in the preceding month.
Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD rising 0.26% to trade at 1.0691, compared to 1.0683 ahead of the data.
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