Canada's economic growth was stronger than expected in the third quarter.

Statistics Canada says the national gross domestic product grew at a 2.7 per cent annual rate, two-tenths of a point above estimates.

The pace of growth was the fastest in two years, when the economy expanded by 3.5 per cent. For comparison purposes, the U.S. economy is expanding at a 2.8 per cent annual pace.

The mining sector was a strong performer, as mining and oil and gas extraction were up 2.2 per cent in the quarter.

There were also gains in the manufacturing, retail, and wholesale trade, finance and insurance sectors. 

The loonie gained a fifth of a cent to 94.67 cents US following the release of the data.