Source: The Canadian Press
North American stock markets appear set for a flat open after unsurprising reports on economic growth in both Canada and the U.S.
Statistics Canada says real gross domestic product added 0.3% in February, which met economists’ forecasts.
Meanwhile, the American economy grew at an annualized 3.2% in the first three months of the year, slower than the expected pace of 3.5%.
Some specific signals of economic growth fared better in the U.S., with consumer goods adding 3.6% and durable goods rising 11%.
The Canadian dollar was little changed on the news, edging up 0.02 cent to 99.48 cents US.
The price of oil added 40 cents to US$85.57 a barrel, while the price of gold gained $6.80 to US$1,175.60 an ounce.
Friday outlook: Markets set to open flat
Statistics Canada’s GDP report meets economists’ expectations
- By: The Canadian Press
- April 30, 2010 April 30, 2010
- 07:51