WINNIPEG, July 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Friday that the country’s economy grew by 0.3 per cent in May, a pinch lower than the 0.4 per cent increase initially projected. The 2.1 per cent drop in the energy sector due to extensive number of wildfires and a 1.8 per cent decline in residential build construction limited May’s increase. Gains in the wholesale and manufacturing sectors helped to expand the economy. However, StatCan has projected a 0.2 per cent contraction for June.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. United States…
- The coup d’état continued in Niger on Friday, as President Mohamed Bazoum remained locked up in the presidential palace. The United States, the Economic Community of West African States, France, and Russia called for Bazoum’s release and the restoration of constitutional order. The coup started with the Presidential Guard arrested Bazoum earlier this week. General Abdourahmane Tchiani, said to have masterminded the coup, declared himself the new president on Friday.
- The United States Department of Commerce reported on Friday that the Personal Consumption Expenditure price index was up an annualized three per cent in June, but lower than the 3.8 per cent in May. The PCE index is the preferred measurement of the economy used by the U.S. Federal Reserve in calculating its interest rate moves. That increase in May led the Fed to raise rates by 25 basis points earlier this week.
