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Global markets: US Q2 economic growth upwardly revised

By Commodity News Service Canada

WINNIPEG, September 29 – The following is a glance at the news moving markets globally.

US GROWTH FASTER THAN PREVIOUSLY THOUGHT
Economic growth in the US moved at a faster pace than previously thought in the second quarter, according to reports out of the country.

Second quarter gross domestic product was up by a 1.4 per cent annual rate, analysts say, which compares with a previously estimated 1.1 per cent.

TOURISM SPENDING UP IN CANADA
Tourism spending in Canada rose 1.1 per cent in the second quarter, following a 1.2 per cent gain in the first quarter. Increased tourism spending by Canadians at home and by international visitors in Canada contributed to the overall growth, Statistics Canada said in a report on Thursday.

This was the 13th consecutive quarterly increase in tourism spending in Canada.

CANADIAN WEEKLY EARNINGS HOLD MOSTLY STEADY IN JULY
Average weekly earnings of non-farm payroll employees were C$955 in July, little changed from the previous month, down 0.2 per cent and from 12 months earlier, gaining 0.1 per cent, Statistics Canada said in a report on Thursday.

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