Saturday, December 20th0.2°C
24562
23664

Canadian dollar slips, data shows decline in manufacturing shipments

TORONTO - The Canadian dollar closed lower Friday amid data showing manufacturing shipments declined in December for the first time since August.

The loonie was down 0.05 of a cent to 91.05 cents US as Statistics Canada reported that manufacturing shipments fell by 0.9 per cent. Economists had been looking for a gain.

The agency cited a decline in transportation equipment sales for the step back. But it also noted that manufacturing sales have risen in six of the past eight months and were 2.7 per cent higher than in December 2012.

In the U.S., the latest reading on U.S. consumer confidence, the University of Michigan's index, was unchanged at 81.2. A slight drop had been expected.

Another report showed that harsh winter weather led to U.S. factory output falling by 0.8 per cent in January.

Overseas, China’s consumer prices rose 2.5 per cent over a year earlier in January, unchanged from December’s rate. The rise in politically sensitive food costs decelerated to 3.7 per cent from December’s 4.1 per cent.

Traders found the inflation data encouraging because it leaves the Chinese government room to stimulate the world’s second-biggest economy.

Other data showed that economic growth across the eurozone was stronger than expected at the end of 2013 as gross domestic product grew by 0.3 per cent in the fourth quarter from the previous quarter. That adds up to an annualized rate of about 1.2 per cent. Analysts had been looking for fourth-quarter growth of 0.2 per cent.

In the third quarter, growth was only 0.1 per cent across the eurozone, which came out of recession at the beginning of 2013.

Commodity prices were mixed amid the economic data as March crude on the New York Mercantile Exchange declined five cents to US$100.30 a barrel.

March copper was up a cent at US$3.26 a pound while April gold bullion gained $18.50 to US$1,318.60 an ounce.

The Canadian Press


Read more Business News

24175


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


23041

FEATURED Property
207281324 - 18451 Cyrstal Waters Road
4 bedrooms 5 baths
$1,695,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24476

24386


Member of BC Press Council


24604