By Commodity News Service Canada
WINNIPEG, January 19 – The following is a glance at the news moving markets globally.
CHINA’S ECONOMY GROWS AT SLOWEST PACE IN 25-YEARS
China’s full-year growth in 2015 was 6.9 per cent, according to data from the country’s national statistics agency, the slowest level in 25 years.
Last year’s figure compares with 2014 when growth was 7.3 per cent, according to reports, but the news of the slowdown didn’t come as a surprise to many market watchers, as China has seen significant economic turbulence in 2015, and into 2016.
IMF EXPECTS CANADA TO SEE SLOWER GROWTH
The International Monetary Fund (IMF) has lowered its 2017 economic outlook for Canada, according to reports on Tuesday.
The IMF expects Canada’s growth will be 1.7 per cent in 2016 and 2.1 per cent in 2017.
The organization attributed the slowdown to a weaker loonie and lower crude oil prices.
IMF EXPECTS SLOWER GROWTH FOR SAUDI ARABIA
Also pressured by weaker crude oil prices, the International Monetary Fund lowered its growth outlook for Saudi Arabia.
The IMF expects Saudi Arabia’s growth will slow from 3.4 per cent growth last year to 1.2 per cent in 2016, and 1.9 per cent in 2017.