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Global markets: US consumer spending at six-year-high in April

By Commodity News Service Canada

WINNIPEG, May 31 – The following is a glance at the news moving markets globally.

US CONSUMER SPENDING SEES BOOST
US consumer spending gained one per cent in April, which is the biggest gain in six years, according to reports out of the country on Tuesday.

EU JOBLESS RATE AT SEVEN-YEAR-LOW
The European Union’s jobless rate fell to 8.7 per cent in April, reports say.

That figure is the lowest in seven years, but behind the US rate of five per cent.

CANADA’S GDP GAINS IN FIRST-QUARTER
Expressed at an annualized rate, Canada’s GDP (Gross Domestic Product) rose 2.4 per cent in the first quarter. By comparison, real GDP in the United States grew 0.8 per cent, Statistics Canada said in a report on Tuesday.

However, the growth fell short of analyst expectations, and seemed to be slowing moving into the second-quarter, analysts say.

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