Global markets: US productivity weakens in first-quarter

By Commodity News Service Canada

WINNIPEG, June 7 – The following is a glance at the news moving markets globally.

US PRODUCTIVITY CONTRACTS IN FIRST-QUARTER
Productivity decreased 0.6 per cent in the nonfarm business sector in the first-quarter of 2016, the United States Department of Labor said in a report on Tuesday.

But at the same time, unit labour costs increased 4.5 per cent at a seasonally adjusted annual rate, the government department said.

CHINA GIVES UNITED STATES INVESTMENT QUOTA
China will be giving the United States a US$38 billion investment quota for the first time, according to reports on Monday.

The investment quota is a way to deepen investment ties, and will be used to buy Chinese stocks, bonds and other assets, analysts say.

INDIA’S ENGINEERING EXPORTS DROP IN APRIL
India’s engineering exports to major international markets dropped 19 per cent in April, compared with the same month a year prior, according to the country’s engineering export council.

Reduced demand from Sri Lanka led the declines, with exports to the country down 90 per cent.

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