Canada GDP growth measures how much the economy expanded or shrank last quarter, the broadest read on Canadian economic health.
Actual
8.9%
Forecast
10%
Previous
-11.3%
Source: Statistics Canada. Figures as released; revisions appear in the next print.
Canada GDP Growth Rate for Q3 2020 came in at 8.9% versus 10% expected (previous -11.3%), below forecast, which was negative for the CAD.
What it meant for the Canadian Dollar
The actual landed below the 10% forecast (1.1 below expectations). A reading above forecast is generally bullish for the CAD, and below forecast bearish. On this release the read was negative for the CAD.
New to this release? See what Canada GDP Growth Rate measures, the next release and its full history.