Investing.com - Financial Markets Worldwide

GDP Down On Both Sides Of The Border

ByThe National Bank of Canada
Published 06/01/2015, 11:14 AM
Updated 05/14/2017, 06:45 AM
US500
-1.71%
DJI
-1.69%
IXIC
-2.20%

First quarter GDP data released by Statistics Canada on Friday confirmed that economic growth shrank by 0.6%, compared to an annualized increase of 2.2% for Q4 2014. The same situation held true south of the border, as the U.S. economy also experienced a difficult first quarter, slowing by 0.7% in Q1 2015. These two readings had a negative impact on the yield curve in Canada, which was down close to 8 bps when markets closed on Friday. The main North American stock markets also had a rough day, with losses of -0.64% for the DJIA, -0.63% for the S&P 500, -0.5% for the NASDAQ and -0.62% for the TSX.

Yesterday, China announced that its Manufacturing PMI for May came in at 50.2, up slightly from the previous month. This morning, Manufacturing PMI figures will be released on both sides of the 49th parallel, with the ISM Manufacturing Index also coming out south of the border.

Have a great day!

  • Range of the day: 1.2440 - 1.2525

Rana Karim

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