By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Ahead of the Statistics Canada report on inflation, analysts said on Monday they are expecting a small increase in the consumer price index for December. Inflation for November was pegged at 3.1 per cent and projections for last month are upwards to 3.4 per cent. StatCan is set to publish its report on Tuesday and will help guide the Bank of Canada in making its next decision on interest rates.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- StatCan reported on Monday that manufacturing sales of C$71.7 billion in November rose 1.2 per cent from October. However from a year ago, the sales slipped 0.8 per cent. The federal agency also said the wholesale trade (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) of C$82.5 billion in November expanded 0.9 per cent from October. Those sales dipped 0.2 per cent when compared to the previous November.
- Republicans in Iowa have the opportunity on Monday to set the early tone for the party’s race for its presidential nomination. Former United States President Donald Trump is believed to have approximately 48 per cent support among the state’s Republicans, while former South Carolina Governor Nikki Haley is thought to be at 20 per cent and Florida Governor Ron DeSantis is around 16 per cent. Unusually frigid temperatures throughout the Midwest could hamper the candidates’ effort to get their supporters out to cast their ballots.
- A survey by the World Economic Forum of more than 60 public and private sector chief economists indicated the global economy is to face subdued growth in 2024. Monday’s report said 56 per cent of those surveyed see weakness in overall global economic conditions, with wide variations from region to region. The survey projected moderate to strong growth for the U.S. and China, but sluggish for Europe. The Pacific, along with South and East Asia are to see at least moderate growth. The 2024 WEF began today in Davos and goes until Friday.
