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Global markets: US economic growth slower than expected

By Commodity News Service Canada

WINNIPEG, May 26 – The following is a glance at the news moving markets globally.

– The US economy advanced less than analysts had expected last month, according to reports on Friday.

The country’s gross domestic product increased at a 1.2 per cent annual rate, the US Commerce Department said.

While lower than anticipated, market watchers say the economy is still likely strong overall, as the first three months of a year often see slower growth.

– In Canada, the median after-tax income of Canadian families and unattached individuals was C$56,000 in 2015, virtually unchanged from 2014. Since the start of the Canadian Income Survey in 2012, the median after-tax income of Canadians has increased 2.9 per cent.

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