- Canada: Annualized real GDP declines to 0% in Q4 vs. 1.5% expected
Market news
28 February 2023
Canada: Annualized real GDP declines to 0% in Q4 vs. 1.5% expected
- Canadian economy performed much worse than expected in Q4.
- USD/CAD rises toward 1.3600 following the disappointing GDP data.
The Canadian economy stagnated in the fourth-quarter with the annualized real Gross Domestic product (GDP) growth arriving at 0%. This reading followed the 2.3% expansion recorded in the third quarter and missed the market expectation for a growth of 1.5% by a wide margin.
On a monthly basis, real GDP in Canada contracted by 0.1%.
Statistics Canada explained slower inventory accumulations and declines in business investment in machinery and equipment were behind the poor economic performance in Q4.
Market reaction
USD/CAD edged higher with the initial reaction and was last seen posting small daily gains at 1.3585.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page