Canada's economy grew 0.2 percent in November on robust wholesale trade and energy data, but a computer error led to a major correction to November's trade surplus, Statistics Canada said on Monday. Analysts had expected, on average, a 0.3 percent rise in Canada's economy. Statscan did not revise its preliminary estimate of no growth in October. "Overall, this report came in largely as expected, and should not impact markets too much," Scotia Capital economist Carolyn Kwan said in a note.

The Canadian dollar was slightly higher at C$1.2371 against the US dollar, or 80.83 US cents, from C$1.2387, or 80.79 US cents, an hour before the GDP data and a correction to November trade data were released.

Canadian Finance Minister Ralph Goodale said on Monday the rapid recent rise in the value of the Canadian dollar has created a major uncertainty for the creation of the budget, which he is due to deliver within the next six weeks.

Goodale also told CBC Radio in Ottawa that the increase in value in the Canadian dollar meant that the economy had to make "a good deal of adjustment."

A computer error at Canada Border Services Agency forced Statscan to correct its January 12 trade balance report on Monday to show a shrunken surplus of C$5.4 billion ($4.4 billion) instead of C$7.3 billion.

Canada's C$1.05 trillion ($847 billion) economy was supported by renewed interest in oil and gas exploration due to recent increases in the price of crude oil, Statscan said.

Copyright Reuters, 2005