Commodity index hits 8-year low

Commodity index hits 8-year low

Commodity index hits 8-year low The Scotiabank commodity index has plummeted to levels not seen since 2007. The monthly barometer of the sector has declined with pressures from a stronger US dollar and increased competition. The bank says that the broad index fell by 8.6 per cent in January from the month before and 27.9 per cent from a year earlier. The gas and oil sub index had a more dramatic month-over-month drop of 21.5 per cent.