Global markets: US jobless claims highest in more than a year

By Commodity News Service Canada

WINNIPEG, May 5 – The following is a glance at the news moving markets globally.

US JOBLESS CLAIMS UP
US jobless claims for the week ended April 30 were up by 17,000 to a seasonally adjusted 274,000, according to reports on Thursday.

That increase is the highest since February 2015, analysts say.

BRITAIN’S ECONOMY CLOSE TO STALLING OUT
Britain’s economic growth slowed in April, and is close to stalling out, according to reports on Thursday.

If trends continue, Britain’s economic growth could stall in the second-quarter, analysts say, at 0.1 per cent compared with 0.4 per cent in the previous quarter.

CANADIAN BUILDING PERMITS DOWN
The total value of building permits issued by Canadian municipalities was down seven per cent to C$6.9 billion in March, marking the second decline in three months. The decrease, which followed a 15.3 per cent gain in February, was largely the result of lower construction intentions for commercial buildings in Alberta, Ontario and British Columbia, Statistics Canada said in a report on Thursday.

In the non-residential sector, the value of building permits was down 22.8 per cent to C$2.4 billion in March, following a 32.6 per cent increase the previous month. Declines were reported in half the provinces, with Alberta responsible for most of the drop, followed by British Columbia and Ontario.

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