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Global markets: World Bank expects strength in India economy

By Commodity News Service Canada

WINNIPEG, May 29 – The following is a glance at the news moving markets globally.

– India’s economy is expected to grow 7.2 per cent in 2017/18, according to estimates from the World Bank.

India is the world’s fastest growing major economy, market watchers say.

– Following two consecutive years of increases, total spending on science and technology activities by federal government departments and agencies is expected to decrease 1.2 per cent to C$11.3 billion in 2017/2018, largely attributable to a decline in activity related to Statistics Canada’s 2016 Census Program, Statistics Canada said in a report on Monday.

– US markets are closed today for the Memorial Day holiday.

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