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Global markets: Italian, German economies grow

By Commodity News Service Canada

WINNIPEG, November 15 – The following is a glance at the news moving markets globally.

– The Italian economy advanced 0.3 per cent in the third quarter, according to reports out of the country on Tuesday. Market watchers say the gains may have been led by increased domestic spending.

Germany’s GDP also expanded, but at a slower pace than expected, and is the country’s worst quarterly rate in the past year, reports say.

The German economy grew 0.2 per cent in the third quarter. Analysts expect lower exports contributed to the slower growth.

– US retail sales were higher than expected in October, according to data out of the country, gaining by 0.8 per cent.

However, the gains were likely caused by increased demand for building materials to repair the damage caused by Hurricane Matthew, reports say.

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