WINNIPEG, April 16 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported that Canadian manufacturing sales fell 0.2 per cent in February, after increasing 0.8 per cent in January. Experts had predicted no change for February, however, the report said sales were down in 15 of 21 industries, comprising 65.9 per cent of the Canadian manufacturing sector.
– Reports from the United States Federal Reserve say industrial production fell in March, thanks to a drop in mining output. Similarly, the U.S. saw weak factory output due to a slowing global economy and trade tensions with China. In total, industrial output, which includes production at factories, utilities, and mines, slipped 0.1 per cent in March.
– Bank of America Corp. undershot revenue expectations in the first quarter of 2019. The second-largest U.S. bank by assets struggled to generate top-line growth and suffered from a decline in trading revenue, according to reports from Reuters. “Bank of America has demonstrated for years now that we can grow well in an economy that is just growing moderately, even if it is slowing,” said Paul Donofrio, chief financial officer, in a conference call.