Skip to main content

Featured

Iran–U.S. Gulf Strikes Escalate: What It Means for Your Canadian Wallet

  The Persian Gulf is on edge again — and this time, the ripple effects are showing up at Canadian gas pumps and grocery stores. On Wednesday, June 3, Iranian drones struck Kuwait's main airport, temporarily shutting it down and killing one person. The U.S. military struck back, targeting an Iranian military ground control station on Qeshm Island in the Strait of Hormuz. It is the latest in a series of back-and-forth military exchanges that are pushing a fragile ceasefire to the breaking point. What Is Happening Right Now? Iran's paramilitary Revolutionary Guard confirmed it targeted U.S. military facilities — including the headquarters of the Navy's 5th Fleet in Bahrain — in retaliation for American strikes on Iranian territory. The U.S. responded with strikes on Qeshm Island. Meanwhile, semiofficial Iranian news agencies reported that Tehran has halted communications with ceasefire mediators, saying it wants the fighting in Lebanon resolved before any broader truce can be...
Post a Comment
Read more

article

Labels

Canada’s economy continues to sputter in Q4 2023

According to Statistics Canada, Canada’s economy showed no growth in October, remaining unchanged at 0.0% on a monthly basis, which is below analyst expectations of 0.2% growth . This marks the third straight month where economic growth was essentially unchanged. Advance estimates for November showed that GDP increased 0.1% last month, as increases in manufacturing, transportation and warehousing, agriculture, forestry, fishing and hunting were partially offset by decreases in retail trade .

The country’s economic engine continued to sputter in the fourth quarter, according to Royce Mendes, Desjardins’ managing director and head of macro strategy. He expects the economy to post “virtually no growth” in the fourth quarter and continue to stagnate. As more households and businesses feel the impacts of higher interest rates in 2024, we expect Canada to fall into at least a mild recession. So while the economy is sputtering now, it might begin rolling backwards early in the new year.


Labels:

Comments

Post a Comment