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

• Canada’s economy grew at a stronger-than-expected pace in Q2.
• USD/CAD is trading slightly lower on the day below 1.3500.

Canada’s real gross domestic product (GDP) grew at an annual rate of 2.1 per cent in the second quarter, Statistics Canada reported Friday. This reading followed the 1.8% growth recorded in the first quarter and came in better than market expectations of 1.6%.

On a quarterly basis, Canada’s real GDP rose 0.5% after rising 0.4% in Q1.

Market reaction

These figures do not seem to have a noticeable impact on USD/CAD action. At press time, the pair was down 0.1% on the day at 1.3460.