Global markets: G20 discussions end with growth agenda

By Commodity News Service Canada

WINNIPEG, September 6 – The following is a glance at the news moving markets globally.

G20 ENDS WITH GROWTH OUTLOOK, CRITICS SAY SUBSTANCE LACKING
G20 leaders met in Hangzhou, China on September 4 and 5, and ended with officials saying they will foster international economic cooperation, and strong, inclusive growth, the European Commission said in a press release.

The press release noted that steps will need to be taken to spur growth by forging synergy among fiscal, monetary and structural policies, enhancing coherence between economic, labor, and employment social policies.

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However, analysts say the talks lacked substance, with the only concrete change being the ratification of the Paris climate change accord between the US and China, according to reports on Tuesday.

US FACES CONSTRUCTION WORKER SHORTAGE
While the American housing market is booming, the industry faces a labour shortage, according to reports out of the country.

There are about 200,000 unfilled construction jobs in the US, data from the National Association of Homebuilders says, which is down 81 per cent from two years ago.

CANADIAN LUMBER PRODUCTION UP

Lumber production by sawmills increased 2.3 per cent from May to 5,896.7 thousand cubic metres in June. Compared with June 2015, lumber production was up five per cent, Statistics Canada said in a report on Tuesday.

According to StatsCan, sawmills shipped 6,044.4 thousand cubic metres of lumber in June, up 4.4 per cent from May. Shipments rose 4.1 per cent compared with June 2015.