Global Markets: United States economy grew at 2.1 per cent in Q3

By MarketsFarm

WINNIPEG, Nov. 27 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The United States economy grew by 2.1 per cent in the third quarter of 2019. That slightly exceeds initial estimates that were around 1.9 per cent, but is lower than the growth rate in the first quarter, which was 3.1 per cent. Some economists surmised the slow growth was due to the U.S.-China trade war causing businesses to cut investments and inventories. However, demand for U.S. business equipment did increase by 1.2 per cent in October, which is an indicator of a healthy economic outlook.

– The Toronto Stock Exchange (TSX) is reviewing a Canadian cannabis company’s eligibility for continued listing on the exchange. CannTrust Holdings Inc. has not filed its restated audited financial statements for 2018, or restated interim financial statements for the first three quarters of 2019, along with “the corresponding management discussion and analysis,” according to The Canadian Press. The TSX said if the company cannot submit the financial disclosures by March 25, 2020, the company will be delisted 30 days later.

– U.S. President Donald Trump announced on Thursday that the U.S. is in “the final throes” of reaching a trade deal with China, according to Yahoo Finance. “There are genuine grievances about the way China approaches trade,” explained Mohamed El-Erian, chief economic advisor at Allianz. “There are genuine grievances about the way China treats American and European companies. These things aren’t going away. So at best, we’re going to get a mini deal that will see a truce through next year. But we are going to see a re-escalation of trade tensions.”

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