• Canada GDP expanded at 0.6% MoM in November, above expected. 
• Q4 annualised GDP growth likely clocked 6.3%, said StatsCan.   

Canada's Real Gross Domestic Product (GDP) expanded at a monthly rate of 0.6% in November, data published by Statistics Canada showed on Tuesday. This reading was well above the consensus market forecast for a growth rate of 0.3% MoM and marked a slight deceleration in the 0.8% MoM growth rate seen in October. Statistics Canada said that GDP was most likely unchanged in December on a MoM basis, implying that Q4 GDP growth likely stood at 6.3% annualised. 

Market Reaction

The loonie did not see much of a reaction to the latest strong GDP figures.