by Fri, 30 Apr 2010 14:51:00 +0200
Canada's GDP rises less than forecast
FXstreet.com (Barcelona) - Canada's gross domestic product increased 0.3% in February compared to January's 0.6% growth. This disappoints forecasts of a 0.5% rise.
In related news, Canada's industrial product price index fell by 0.4% in March compared to February's 0.1% increase.
Canada's raw materials price index, however, grew 0.8% in March, up from February's 0.4% rise. This beats expectations of a more modest 0.6% move upwards.
The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. Generally speaking, a rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.
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