Investing.com - Canada''s economy expanded in line with expectations in February, easing concerns over the country’s economic outlook, official data showed on Wednesday.
In a report, Statistics Canada said gross domestic product expanded by a seasonally adjusted 0.2% in February, meeting forecasts. Canada’s economy grew by 0.5% in January.
Canada’s gross domestic product expanded at an annualized rate of 2.6% in February, above expectations for a reading of 2.5% and following growth of 2.6% in the preceding month.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.14% to trade at 1.0960.
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