Canada: Real GDP grows by 0.1% in August vs. 0% expected

• Canadian economy grew by 0.1% on a monthly basis in August.
• USD/CAD clings to modest daily gains above 1.3600 after the data.

Real Gross Domestic Product (GDP) in Canada grew by 0.1% on a monthly basis in August, Statistics Canada reported on Thursday. This reading followed July's expansion of 0.1% and came in slightly better than the market expectation of 0%.

"Advance information indicates that real GDP increased 0.1% in September," the publication further read. "Increases in the oil and gas extraction subsector, the manufacturing sector and the public sector were partially offset by declines in construction."

Market reaction

This data failed to help the loonie gather strength and USD/CAD was last seen trading in positive territory slightly above 1.3600.