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Global markets: US jobless claims, economy advance

By Commodity News Service Canada

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

– US jobless claims in the week ending March 25 dropped 3,000 to a seasonally adjusted 258,000, data from the country’s labour department said on Thursday.

That marks 108 consecutive weeks in which claims have been below 300,000, which indicates a healthy labour force.

– The American economy grew at a faster pace than previously reported, according to reports on Thursday.

US GDP increased at a 2.1 per cent annualized rate in the in the fourth quarter, compared with a previously estimated 1.9 per cent, reports out of the country said.

– The Canadian Industrial Product Price Index (IPPI) edged up 0.1 per cent in February, primarily due to higher prices for meat, fish and dairy products and primary non-ferrous metal products. The Raw Materials Price Index (RMPI) increased 1.2 per cent, mainly as a result of higher prices for animals and animal products, Statistics Canada said in a report on Thursday.

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