By Joseph Plocek

WASHINGTON (MNI) - The U.S. Q1 real GDP was pretty much as expected at +3.2%, but final sales remained modest at +1.6% as inventories contributed significantly, suggesting continued modest growth ahead.

Consumption appears to be rising (at +3.6%, at its best pace since Q1:07) on better non-auto durables spending. Spending was seen at a good clip in furnishings, recreational goods, and 'other' durables. Spending on motor vehicles and parts made a small negative contribution to growth.

By Courtney Tower

OTTAWA (MNI) - Canada's economy grew by 0.3% in February, its sixth consecutive month of GDP increase, based largely on the strength of what had long been its hardest-hit sector, manufacturing.

WASHINGTON (MNI) - The following is the text of a statement Friday by the U.S. Treasury Department, announcing it priced its PNC warrant offering at $19.20 per warrant:

LONDON, Apr 30 (MNI) - Moving into the end of the week, end of the month covering euro short positions appears to be the move in the European session ahead of this weekend's IMF meeting finalising the details of the aid package to Greece. Reports of month end fixing orders have also added support to the euro as traders note decent size dollar sales to be executed.

SINGAPORE, April 30 (MNI) - The U.S. dollar traded with a mixed bias in late Asian trade Friday as the euro staged a stronger rebound buoyed by hopes Greece would be able to push through measures to improve its debt and fiscal problems.

The dollar was however about unchanged on the yen ahead of an ultra-long weekend in Japan and after the Bank of Japan decided to keep rates on hold.

SINGAPORE, April 30 (MNI) - The U.S. dollar was about unchanged in Asia Friday, after early euro gains faded amid lingering concerns about debt and fiscal problems in the euro-zone. The dollar also barely moved after the Bank of Japan decided to keep rates on hold after its one-day policy board meeting.

By Steven K. Beckner

(MNI) - Only time will tell, but the appointment of Janet Yellen and two others to the Federal Reserve Board of Governors could prove momentous.

Yellen, currently president of the Federal Reserve Bank of San Francisco, will be catapulted into the voting ranks of the Fed's interest rate-setting Federal Open Market Committee the moment she succeeds Don Kohn as vice chairman when he retires on June 23. This assumes of course that she is confirmed by the U.S. Senate, but that is virtually a foregone conclusion.

By John Shaw

WASHINGTON (MNI) - Treasury Secretary Tim Geithner said Thursday the Obama administration continues to encourage China to "shift" to an economic policy that is more focused on domestic consumption, less reliant on exports, and open to currency reforms.