By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- In the latest sign of China’s economy continuing to struggle, a report on Friday showed the country’s exports fell 7.5 per cent in March compared to the previous March. High interest rates that weighed on overseas demand were said to be the main cause of the decline. The drop well exceeded pre-report forecasts that predicted China’s exports shrinking by 2.3 per cent. In terms of the first quarter of 2024, there was an overall increase of 1.5 per cent compared to a year ago.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Statistics Canada reported on Friday that median wages of C$45,380 per year in 2022 fell 1.6 per cent from the previous year. The report pointed to inflation hitting 6.8 per cent in 2022, the highest in 40 years, for the drop in wages. The largest median wage increase was 13.8 per cent in the arts, entertainment and recreation sector and the biggest decline was 5.3 per cent in educational services.
- The Survey of Professional Forecasters issued by the European Central Bank on Friday, found economists still believe inflation in the European Union will decline to two per cent. The survey projected inflation at 2.4 per cent in 2024 and then holding at two per cent the following two years. Also, those polled predicted economic growth in the EU of 0.5 per cent in 2024 and 1.4 per cent in 2025 and 2026. On Thursday, the ECB held its interest rate at four per cent, while signaling a cut could come in June.
- The United Kingdom may be on its way out of recession, according to the Office of National Statistics on Friday. The ONS reported the U.K. experienced 0.1 per cent economic growth in February and January’s figure was bumped up from 0.2 to 0.3 per cent. The report said the U.K.’s production industry led the way with an increase of 1.1 per cent, while the construction incurred the biggest fall at 1.9 per cent.
