Global markets: US data shows small business optimism

By Commodity News Service Canada

WINNIPEG, January 10 – The following is a glance at the news moving markets globally.

– Small business confidence in America moved to a 12-year-high last month, according a report released on Tuesday.

An index from the National Federation of Independent Business, which indicates small business optimism, increased by 7.4 points in December, reaching 105.8, the highest level since 2004.

– Canadian municipalities issued C$7.8 billion worth of building permits in November, down 0.1 per cent from the previous month. The decline was largely the result of lower construction intentions in Alberta, following a spike the previous month due to impending changes to the Alberta Building Code, Statistics Canada said in a report on Tuesday.

In the residential sector, the value of building permits fell 1.6 per cent to C$5.1 billion in November, following three consecutive monthly increases. Declines were posted in four provinces, led by Alberta. The largest gains were posted in British Columbia and Quebec.

Building permits give market indications about the future of a country or region’s upcoming supply levels.

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