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Global markets: Britain’s banks expect lower business lending

By Commodity News Service Canada

WINNIPEG, October 14 – The following is a glance at the news moving markets globally.

BRITISH BUSINESS LENDING MAY SLOW IN Q4
Britain’s banks expect to see a downturn in the amount of business lending they provide in the fourth quarter, according to reports out of the region on Friday.

‘Brexit’ may play a role in reduced business expansion.

NON-RESIDENTAL BUILDING INVESTMENT DOWN IN CANADA
Investment in non-residential building construction totalled C$12.5 billion in the third quarter, down 0.5 per cent from the previous quarter. This was the sixth decrease in seven quarters dating back to the first quarter of 2015. The decline in the third quarter reflected lower spending on commercial and industrial building construction, which more than offset higher investment in institutional buildings, Statistics Canada said on Friday.

CANADIAN JULY CRUDE PRODUCTION DOWN FROM YEAR AGO
Canada produced 19.0 million cubic metres (119.2 million barrels) of crude oil and equivalent products in July, down 3.8 per cent compared with the same month in 2015, Statistics Canada said in a report on Friday.

However, Canadian refineries received 8.8 million cubic metres of crude oil in July, up 1.6 per cent from the same month in 2015. The year-over-year increase in July was the first since the Alberta wildfire in May, StatsCan said in a separate report.

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