Global Markets: China upwardly revises 2015 economy

By Commodity News Service Canada

WINNIPEG, July 5 – The following is a glance at the news moving markets globally.

CHINA’S 2015 GDP REVISED HIGHER
The value of China’s 2015 gross domestic product has been revised upward by 1.3 per cent, according to reports on Tuesday.

Increased research and development spending was factored into the new total, analysts say.

EURO ZONE RETAIL SALES GAIN IN MAY
Retail sales in the euro zone increased by 0.4 per cent in May on a monthly basis, and gained 1.6 per cent on a yearly basis, market watchers said on Tuesday.

May’s gains were the highest monthly increase of 2016.

CANADA’S FARM INPUT PRICES DROP IN Q1
In the first quarter, the farm input price index decreased 2.1 per cent from the previous quarter. The decline was mainly attributable to animal production, down 2.8 per cent, more specifically, cattle, which dropped 6.4 per cent, Statistics Canada said in a report on Tuesday.

Machinery, motor vehicles and crop production also contributed to the drop, StatsCan said.

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