Mark Carney said there won’t be progress until the U.S. begins to ease hefty tariffs on key Canadian industrial goods such as steel, aluminum, automobiles and forest products.
The U.S., France, Japan, India and the U.K. recorded a pickup in factory output, but Germany is experiencing a sharp decline in services activity and a slowdown in manufacturing.
Producer prices in Canada climbed again last month, driven by a record jump for energy products and big rises for chemicals with the escalation in the Iran war.
The number of people who filed for unemployment benefits was 214,000 in the week through April 18, higher than the 208,000 reported a week earlier, the Labor Department said.
South Korea’s economy rebounded at a stronger-than-expected pace in the first quarter on robust semiconductor exports, signaling that the country’s artificial intelligence-driven buffer remains intact.
More than a year into President Trump’s immigration crackdown, there is little evidence of widespread disruptions in the labor market, or of meaningful benefits to American workers.
Inflation climbed as the war drove up energy prices, although it is unlikely to prompt the Bank of England to raise its key interest rate at next week’s meeting.
Total retail sales rose by 1.7% in March, following a 0.7% increase in February, as Americans paid more at the pump due to a sharp rise in gasoline prices amid the war in Iran.
The unemployment rate fell in the three months through February, though that is unlikely to be sustained as the war in the Middle East raises the pressure on firms to reduce hiring or cut jobs.
