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Canada GDP Beats Expectations to Grow 0.6 Percent

Canada’s gross domestic product expanded by 0.6 per cent in the final three months of 2014, a bit slower than the pace seen in the previous quarter but better than what analysts were expecting.

Statistics Canada said exports of goods and services fell 0.4 per cent between October and December after increasing 2.2 per cent in the previous three months. Much of the slowdown in exports was tied to the price of oil, as Canadian energy companies pumped out far less in response to plunging prices.

“Exports of motor vehicles and parts (-3.5 per cent) and energy products (-1.3 per cent) were notably lower,” the data agency said.

Overall, the 0.6 per cent quarterly expansion translates into a 2.4 per cent annual rate, which is stronger than the U.S.’s 2.2 per cent growth during the same period.

via CBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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