Canada real GDP grew 2.1% in Q2 vs. 1.6% expected

Market news

30 August 2024

Canada real GDP grew 2.1% in Q2 vs. 1.6% expected

Canada's economy grew at a stronger pace than expected in Q2.
USD/CAD trades marginally lower on the day below 1.3500.

Canada's real Gross Domestic Product (GDP) expanded at an annual rate of 2.1% in the second quarter, Statistics Canada reported on Friday. This reading followed the 1.8% growth recorded in the first quarter and came in better than the market expectation of 1.6%.

On a quarterly basis, Canada's real GDP expanded 0.5% after growing 0.4% in Q1.

Market reaction

These figures don't seem to be having a noticeable impact on USD/CAD's action. At the time of press, the pair was down 0.1% on the day at 1.3460.

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