By Commodity News Service Canada
WINNIPEG, November 30 – The following is a glance at the news moving markets globally.
SWEDEN’S ECONOMIC GROWTH DOUBLES ANALYST EXPECTATIONS
Sweden’s economy grew twice as fast as analysts had previously anticipated. The gain was attributed to stronger exports and higher consumer spending.
Sweden’s economy grew by 0.8 per cent in the third quarter, according to the country’s statistics office, compared to analyst projections of 0.4 per cent.
INDIA OUTPACES CHINA IN ECONOMIC GROWTH
India’s economy grew faster than China’s in the third quarter, as manufacturing in India picked up.
India, which is Asia’s third largest economy, grew at an annual rate of 7.4 per cent between July and September, according to reports from the country.
China’s economy saw an annual growth of 6.9 per cent for the three months ended September 30.
INDIA EXPECTED TO IMPORT MORE FOREIGN OIL: IEA
India’s reliance on imported foreign oil is expected to hit 90 per cent by 2040, according to the International Energy Association.
The IEA says due to a stronger economy and increased manufacturing, India’s energy needs will increase. The IEA expects India will import most of its oil from the Middle East.