Statistics Canada reported that after seven straight monthly increases, GDP remained unchanged in April. Retail trade fell during the month, but these losses were offset by increases in mining, wholesale trade, the public sector and construction.
Source: The Canadian Press
Oil fell to $76.79 in Europe today following yesterday’s stock market losses. News that Germany’s jobless rate declined to 7.5 per cent helped give European stocks a much-needed boost, although most Asian stock markets fell following a 2.7 per cent drop Tuesday in the Dow Jones industrial average.
Investors are now bracing for the US Non-Farm Payroll employment report due Friday morning.
“We don’t see Friday’s jobs report saving us from what seems to be course set for a double-dip recession,” analyst Cameron Hanover said in a report.
Source: Associated Press