StatsCan says that trend is unlikely to abate – on a month-over-month basis, the flash estimate has growth flatlining entirely in December. Back to November, growth in the service sector was partially offset by a decline in good-producing industries as rising rates appear to be taking a toll on economic activity.The International Monetary Fund is striking a cautiously optimistic tone for the global economy, raising its growth outlook for the first time in a year.
General Motors handily surpassed fourth-quarter earnings estimates and sees no signs of momentum slowing, forecasting full-year earnings per share will come in somewhere in the range of US$6-7, well above analyst estimates. We'll be keeping an eye on shares of McDonald's – up more than two per cent in the premarket – after the fast-food purveyor topped fourth-quarter profit and revenue estimates, with new menu items and higher prices driving the beat.
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