Global markets: Chinese economic growth highest in more than a year

By Commodity News Service Canada

WINNIPEG, April 17 – The following is a glance at the news moving markets globally.

– China’s economy grew at its fastest rate in more than a year in the first quarter, according to reports on Monday.

From January to March 2017, the country’s economy advanced 6.9 per cent.

Market watchers say the country’s property market and steel industry may have spurred growth.

– Crude oil futures were lower in early activity on Monday, but were showing signs of recovery.

The market declined Monday morning following data which shows the US is continuing to produce high amounts of the commodity.

However, strong economic growth in China and production cuts from industry group OPEC (Organization of the Petroleum Exporting Countries) underpinned the market and limited losses.

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