Global markets: US consumer spending strong in April

By Commodity News Service Canada

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

– US consumer spending increased the most in four months in April, according to reports out of the country on Tuesday.

The US Commerce Department reported that consumer spending was up 0.4 per cent.

Market watchers say the rise may give incentive to the US Federal Reserve to raise interest rates.

– Canada’s current account deficit (on a seasonally adjusted basis) widened by C$2.3 billion in the first quarter to C$14.1 billion, as the goods balance moved from a surplus to a deficit, Statistics Canada said in a report on Tuesday.

In the financial account (unadjusted for seasonal variation), large foreign investment in Canadian corporate securities led the net inflow of funds into the economy.

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