The Canadian economy grew by 0.4% in October from September, which surpassed the 0.3% pace economists had forecast.
A flash estimate for November showed further expansion of 0.4%. Canada’s main stock index rose on Wednesday as the domestic economy expanded more-than-expected in October, spurring hopes for a quicker economic recovery, while gains in energy stocks further lifted sentiment.
According to Statistics Canada, the nation’s economy grew both in October and November, with the October growth slightly above expectations. The energy sector climbed 1.8% as US crude prices rose 0.7% a barrel, while Brent crude also added 0.7%.
Today in the Markets
The Canadian dollar traded for 77.75 cents US compared with 77.45 cents US on Tuesday.
Crude oil prices were up $1.05 to $48.07.
The price of gold was up $4.20 to $ 1,874.40.
In world markets, the Nikkei was up 88.40 points to 26,524.79, the Hang Seng was up 223.85 points to 26,343.10, the FTSE was up 42.59 points to 6,495.75, and the DAX was up 169.12 points to 13,587.23.