Canada’s GDP contracted by 0.1 percent in April, Statistics Canada reported, and said early indications are that the economy shrank by a similar amount in May.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Jul 1 2025
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TESLA’S EUROPEAN SALES TUMBLE AGAIN IN MAY
In May, Tesla’s vehicle sales across Europe and the U.K. totaled just 13,863 units, down 28 percent year on year, the European Automobile Manufacturers Association reported.
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TRUMP CUTS OFF ALL TRADE NEGOTIATIONS WITH CANADA
On 27 June, Donald Trump announced the U.S. is immediately “terminating ALL discussions on Trade with Canada” after the U.S.’s northern neighbor is set to begin collecting a digital services tax on Internet companies, both Canadian and foreign.
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STABLECOINS FAIL KEY SAFETY TESTS, CENTRAL BANKS GROUP SAYS
Stablecoins currently “perform badly” on three key safety tests that would allow them to be used as currency, according to an analysis by the Bank for International Settlements (BIS), an organization serving the world’s central banks.
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GERMAN CONSUMER SENTIMENT SAGS
Households in Europe’s largest economy are feeling less confident about the country’s current economy, according to the newest consumer sentiment survey by thinktank GfK and the Nuremberg Institute for Market Decisions (NIMD).
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
More than 63K people have been laid off in the tech industry this year, according to layoff tracking website layoffs.fyi. Intel adds to the job cuts this week with 170 layoffs in Santa Clara, Calif. and 195 layoffs in Ireland.
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SPOTLIGHT ON CHINA: WHAT’S UP, WHAT’S DOWN, WHAT’S NEXT
By their deeds you shall know them. Beijing’s actions have inflicted grave economic damage on its nation’s economy.