Global markets: Canadian economy grows 0.1 per cent in April

By Commodity News Service Canada

WINNIPEG, June 30 – The following is a glance at the news moving markets globally.

CANADA’S REAL GROSS DOMESTIC PRODUCT UP
After decreasing in February and March, real gross domestic product edged up 0.1 per cent in April. Widespread gains, notably in manufacturing, utilities and the public sector, were largely offset by a significant decline in non-conventional oil extraction, Statistics Canada said in a report on Thursday.

According to StatsCan, service-producing industries rose 0.2 per cent in April, after being essentially unchanged in March. Notable gains were posted by the public sector (education, health and public administration combined), the finance and insurance sector, and wholesale and retail trade. In contrast, the arts, entertainment and recreation sector notably declined.

CANADA’S INDUSTRIAL PRICE PRODUCT INDEX GAINS
The Industrial Product Price Index (IPPI) increased 1.1 per cent in May, mainly due to higher prices for energy and petroleum products. The Raw Materials Price Index (RMPI) rose 6.7 per cent, led by a gain in prices for crude energy products, Statistics Canada said in a report on Thursday.

EURO ZONE ANNUALIZED INFLATION INCREASES IN JUNE
Consumer prices in the euro zone gained in June, marking the first increase in five months, reports out of the region say.

The euro zone’s annualized inflation moved to 0.1 per cent in June, following a decline of 0.1 per cent in May.

Analysts say stimulus measures from the European Central Bank were starting to work, but the future is uncertain due to Brexit.

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