GB: TSX lower as GDP growth comes in as expected, greenback pressures commodities Read it on Global News: Global BC | TSX lower as GDP growth comes in as expected, greenback pressures commodities
TORONTO - The Toronto stock market moved slightly lower as economic growth data met expectations while commodity prices weakened.
The S&P/TSX composite index slipped 5.83 points to 12,717.63.
Statistics Canada said the economy expanded at an annualized rate of 1.8 per cent during the October to December period. Gross domestic product grew 0.4 per cent during December, which was also in line with expectations.
The Canadian dollar was lower despite the data, down 0.08 of a cent to 101.35 cents US.
The currency was pressured by commodity prices which weakened across the board amid the pressures of a rising American dollar. Oil fell 96 cents to US$107.88 a barrel.
New York's Dow Jones industrials declined 7.87 points to 12,972.43, the Nasdaq composite index was down 3.11 points to 2,985.86 and the S&P 500 index was off 1.29 points to 1,372.8.
