Canada’s GDP expanded by 0.2 percent in July, double what economists had forecast in a Reuters poll.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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OPEC INCREASES FORECAST FOR LONG-TERM OIL DEMAND
Economic growth in Africa, India, and the Mideast and a slowdown in the transition to electric vehicles (EVs) will raise world oil demand more over the long term than previously expected…
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MOODY’S CUTS ISRAEL’S CREDIT RATING A SECOND TIME
Moody’s Ratings has downgraded Israel’s creditworthiness for a second time this year, dropping it from A2 to Baa1 as the Gaza war, and now a conflict with Hezbollah, takes its toll on the country’s finances.
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ITALY SEES 1 PERCENT GROWTH THIS YEAR, CUTS DEFICIT REDUCTION GOAL
Italy expects its economy to expand by 1 percent this year and 1.2 percent in 2025 and says it will reduce its annual budget deficit below last year’s.
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GERMANY’S ECONOMY WILL END THIS YEAR IN RECESSION
Finally repeating what we have long forecast and detailed in The Trends Journal, in a joint report, four German economic think-tanks have flipped their forecasts, saying now that the country’s economy will shrink by 0.1 percent this year.
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WORLD ECONOMY WILL GROW 3.2 PERCENT THIS YEAR, OECD SAYS
Falling interest rates and the slowdown in inflation is giving households more money to spend, which will enable the global economy to grow 3.2 percent this year and by the same percentage in 2025, according to an analysis by the Organization for Economic Cooperation and Development (OECD).
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AUTO LOANS ARE TURNING SOUR, CARMAX WARNS
For June, July, and August, used-car retailer CarMax reported a 14.4-percent loss in auto loan revenue, year on year, after analysts had forecast 7.4 percent growth.
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U.S. ECONOMY REBOUNDED QUICKER THAN THOUGHT
The U.S. economy grew faster through 2021, 2022, and early 2023 than was previously estimated, according to revised quarterly data released by the U.S. Commerce Department last week.