In today's news: The Canadian economy is beating the US; Alberta growing faster despite disaster; US retailers struggling; Russian economy slowing in wake of sanctions; Turkish PM slams his central bank; the doomish wonder if the bond market is broken.
The growth is not what might be hoped, but “Canada’s plodding economy looks like it outperformed the U.S. in the first quarter” the Globe and Mail reports this morning. “Figures show that U.S. gross domestic product shrunk at an annual rate of as much as 0.5 per cent in the first quarter...Forecasts suggest Canadian GDP, on the other hand, grew 1.7 per cent – still positive, but a dramatic slowdown from the 2.9 per cent pace of the final three months of 2013.”
Read the full story
For more Newswire stories:
U.S. Retailers Missing Estimates by Most in 13 Years
Calgary economy prospers despite flood of '13
Could Global Bond Markets Be Broken?
PM Erdogan slams Turkish Central Bank over interest rate cut
Russian economy to grow by 0.5 percent in 2014