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Global markets: US retail sales at one-year-high

By Commodity News Service Canada

WINNIPEG, May 13 – The following is a glance at the news moving markets globally.

US RETAIL SALES GAIN MOST IN A YEAR
US retail sales gained the most in a year in April, according to data out of the country.

April’s sales were up 1.3 per cent, the highest level since March 2015.

Analysts say the data is sparking renewed hope about the country’s economy.

CANADIAN RETAIL SALES DOWN, LARGEST DROP SINCE DATA SERIES START
Canada’s retail services price index declined 1.3 per cent in the fourth quarter, with 8 of 10 major retail subsectors posting declines. This was the fourth and the largest quarter-over-quarter decrease since the beginning of the series in 2008, Statistics Canada said in a report on Friday.

CANADIAN WHOLESALE TRADE UP
The Canadian wholesale services price index was up 1.5 per cent in the fourth quarter. Gains were widespread, with seven of eight major sectors reporting increases and one sector posting a decline, Statistics Canada said in a report on Friday.

According to StatsCan, margins for petroleum and petroleum product wholesalers recovered from the previous quarter and posted the largest increase at 7.3 per cent. Purchase prices for petroleum and petroleum products declined at a faster pace than selling prices in the fourth quarter.

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