Weekly Digest – 10 July 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Canada’s GDP grew 0.3% in April, with rebound in some sectors

Canada’s economy grew 0.3 per cent in April, helped by strength in several industries, including wholesale trade, oil and gas extraction and manufacturing, Statistics Canada said. The data matched expectations as analysts polled by Reuters had forecast 0.3 per cent GDP growth in the month, after zero growth in March.

New consumer’ is using technology like never before to get the best deals

A new consumer has arisen since the pandemic who is focused only on getting the best deals and is using technology to find them, says retail analyst Bruce Winder.

B.C. port employer threatens lockout after union’s strike notice

Is it OK to choose ‘no tip’ at the counter? Some customers think so

Survey results show 77% of Canadian respondents dislike auto-tipping prompts on payment machines.

Canada’s passive approach to forest maintenance is helping to fuel wildfire scourge

One thing we know for sure is that the frequency and severity of wildfires will only increase. Let’s not kid ourselves; there’s no escaping the fact that Canadians — and our governments — need to rethink how we address and mitigate these risks. This rethink requires nothing less than a paradigm shift toward more proactive management of our forests, focused on practical solutions.

Putting the small business lens on the 2024 provincial budget season in Canada

Prolonged high interest rates and inflation have significantly impacted Canada’s economy. Amid volatile global economic conditions, several provinces have presented their budgets for the upcoming year, highlighting the challenges of balancing both the books and regional priorities in such a difficult environment.

Canada’s services PMI falls to three-month low in June

Canada’s services economy moved back into contraction in June as a decline in new business weighed on the sector’s performance even as inflation pressures cooled, S&P Global Canada services PMI data showed on Thursday.

Will Trudeau’s capital gains tax hike hurt Canada’s economic well-being?

In a recent Globe and Mail column, UBC Professor Kevin Milligan said the federal government’s recent capital gains tax increase will not make much of a difference to Canada’s economic well-being. But this view ignores the obvious negative consequences of the tax increase.

Canada economy on track to grow 1.8% in second quarter

Canada’s economy appears to be decelerating after a strong start to the second quarter, keeping the Bank of Canada on track to cut interest rates further this year as below-potential growth continues.

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