By Commodity News Service Canada
WINNIPEG, March 3 – The following is a glance at the news moving markets globally.
US UNEMPLOYMENT CLAIMS RISE
The amount of Americans filing for jobless claims in the week ended February 27 increased by 6,000 to 278,000, according to reports on Thursday.
Despite the slight increase in jobless claims, the data still reflects a healthy labour force.
BRAZIL’S ECONOMY SHRINKS
Brazil’s gross domestic product (GDP) shrank 3.8 per cent in 2015, according to reports on Thursday, the worst level since 1990.
More than 1.5 million workers lost their jobs throughout last year, which in part contributed to the declines.
CANADA’S RESIDENTAL CONSTRUCTION MOVES UP
Canada’s residential construction investment totalled C$29.7 billion in the fourth quarter, up 2.4 per cent compared with the same quarter in 2014.
Investment in apartment and apartment-condominium building construction, up 25.1 per cent to C$4.8 billion, accounted for most of the increase at the national level. Acquisition costs related to new dwelling units built (up 3.3 per cent to C$3.4 billion) and spending on row house construction (up 1.9 per cent to C$1.2 billion) also contributed to the quarterly gain.