By Commodity News Service Canada
WINNIPEG, March 31 – The following is a glance at the news moving markets globally.
CANADA’S GDP GAINS IN JANUARY, FOURTH MONTH IN A ROW
Canada’s real gross domestic product rose 0.6 per cent in January, a fourth consecutive monthly increase. Manufacturing, retail trade, and mining, quarrying, and oil and gas extraction were major contributors to growth in January, Statistics Canada said in a report on Thursday.
According to StatsCan, the output of goods-producing industries grew 1.2 per cent in January, mainly as a result of increases in manufacturing and mining, quarrying, and oil and gas extraction. Utilities, construction, and the agriculture and forestry sector also rose.
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US JOBLESS CLAIMS GAIN, BUT STILL BELOW KEY LEVEL
US jobless benefits in the week ended March 26 were up by 11,000, reaching a seasonally adjusted 276,000, according to reports on Thursday.
Despite the increase, the country’s labour force remains healthy, as indicated by a 55 week stretch of claims below 300,000, which is the longest stretch in 43 years.
CANADIAN NON-FARM PAYROLLS DOWN
Average weekly earnings of Canadian non-farm payroll employees were C$953 in January, down 0.7 per cent from the previous month. Compared with 12 months earlier, average weekly earnings were little changed at 0.4 per cent, Statistics Canada said in a report on Thursday.
According to StatsCan, the change in weekly earnings reflects a number of factors, including wage growth, changes in the composition of employment by industry, occupation and level of job experience, and average hours worked per week.
