Glacier FarmMedia COVID-19 & the Farm

Global markets: Canadian GDP strengthens further in March

By Commodity News Service Canada

WINNIPEG, June 30 – The following is a glance at the news moving markets globally.

– After increasing 0.5 per cent in March, Canada’s real gross domestic product (GDP) rose 0.2 per cent in April as 14 out of 20 sectors grew, Statistics Canada said in a report on Friday.

Service-producing industries increased 0.3 per cent on widespread growth across sectors. Goods-producing industries were essentially unchanged as growth in mining, quarrying, and oil and gas extraction was largely offset by a decline in manufacturing.

Those advances mark the sixth straight monthly gain, and buoyed the Canadian dollar in early activity.

– The Industrial Product Price Index (IPPI) declined 0.2 per cent in May, mainly due to lower prices for energy and petroleum products. The Raw Materials Price Index (RMPI) fell 1.8 per cent, primarily due to lower prices for crude energy products, Statistics Canada said in a report on Friday.

That weakness marks the first month-over-month decline since August last year.

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