By MarketsFarm
WINNIPEG, April 29 – The following is a glance at the news moving markets in Canada and globally.
– Canada’s real gross domestic product was up by 1.1 per cent on a monthly basis in February, marking the ninth monthly increase in a row. Preliminary estimates for March call for 0.5 per cent growth.
– Inflation in the Euro zone hit a record high in April, hitting 7.5 per cent on the back of rising energy and food prices, according to data from Eurostat. The European growth was in line with expectations, but still seen as contributing to the likelihood of rising interest rates and other central bank measures to slow the economy. Core inflation, which takes out energy and food, hit 3.9 per cent – which was above expectations.
– Consumer spending in the United States climbed by 1.1 per cent in March, according to a report from the country’s Commerce Department. The spending beat expectations, helping inflation rise by an annual rate of 6.6 per cent. That marked the largest rise in four decades.
