Global Markets: Canada’s GDP grew in November

By Commodity News Service Canada
WINNIPEG, Jan. 31, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
The Canadian economy accelerated by the fastest rate in six
months in November, according to a release by Statistics Canada
on Wednesday. Growth was wide-spread across a number of sectors
including manufacturing, oil and gas extraction and real estate.
Gross domestic product rose by 0.4 per cent from the previous
month, which was in line with economists’ expectations.
Suncor Energy Inc. has announced its plans over the next

six years to phase in more than 150 electric autonomous haul
trucks at its company-operated mines. Suncor is expected to
start to decrease its equipment operator positions starting in
as early as 2019. The company says the implementation will
change roles and required skill sets for some employees at its
operations in the future.
A growing number of Canadian drilling rigs are being moved
south of the border to take advantage of brighter prospects for
oil and gas in the United States and are not expected to ever
move back. The U.S. is enticing due to the recently lowered
taxes and pipeline construction, while in Canada the opposite is
happening. Canadian crew members are unlikely to be moving with
the rigs to the U.S. instead the rigs are expected to be crewed
by American workers.

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