Canada posted an unanticipated employment surge driven by record private-sector hiring, as the economy shows some signals of strength despite other headwinds. Employment increased in January, mostly driven by a 99,200 gain in services.
The United Kingdom’s economy has continued to decline since 2018 as growth weakened on Brexit uncertainties which brutalized investment into the country official data demonstrated this morning. The pace of economic growth fell to 0.2% between October and December from 0.6% in the previous quarter.
Alberta’s effort to ease the crude surplus through mandatory production curtailments has started to unravel as Canadian heavy crude has become too expensive to ship by rail. Rail volumes fell 56% last week, as the government eased the mandate by 75,000 barrels a day after widespread complaints by oil producers.
Chinese Vice Premier Liu He will meet Treasury Secretary Mnuchin and Trade Representative Lighthizer in Beijing for high-level trade talks this week. This comes as Lighthizer recently warned that time is running short to make a deal ahead of the March 1 imposition of further tariffs on China.