By Commodity News Service Canada
WINNIPEG, January 29 – The following is a glance at the news moving markets globally.
US ECONOMY SLOWS IN FOURTH-QUARTER
The US economy slowed in the fourth-quarter, the country’s Commerce Department said on Friday.
Gross domestic product increased at a 0.7 per cent annual rate, compared with two per cent the previous quarter.
Lower crude oil prices and a stronger US dollar weighed on the country’s exports.
CANADA’S ECONOMY EXPANDS
Real gross domestic product rose 0.3 per cent in November, primarily as a result of increases in wholesale and retail trade, oil and gas extraction as well as manufacturing, Statistics Canada said in a report on Friday.
According to StatsCan, the gain in November follows a 0.5 per cent decline in September and no growth in October.
The output of service-producing industries increased 0.2 per cent, mainly as a result of increases in wholesale and retail trade.
CANADIAN PRODUCER PRICES FALL FOR FIFTH CONSECUTIVE MONTH
Canada’s industrial product price index declined 0.2 per cent in December, mainly as a result of lower prices for energy and petroleum products. The raw materials price index fell five per cent, led by lower prices for crude energy products, Statistics Canada said in a report on Friday.