Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada announced on Friday that the country’s economy was essentially flat in May. The federal agency issued its report on Canada’s gross domestic product, which showed essentially no growth, nor contraction in the economy that month. That followed 0.3 per cent growth in April and Statistics Canada projected a 0.1 per cent increase for June. The latest report from agency has led analysts to believe an economic recession is around the corner.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Adding to fears of a global recession was China’s statement that its economy might not reach the projected 5.5 per cent growth in 2022. Rather, the ruling Communist Party’s 25-member Politburo remarked on Thursday, that China would “strive to achieve the best results possible.” The country has struggled through the COVID-19 pandemic, with a near-constant flow of outbreaks in major centers all leading to an economic slowdown.
– The Russian invasion of Ukraine could spread into Moldova, according to a BBC report. The country is landlocked between Ukraine and Romania and includes the breakaway region of Transnistria, which is pro-Russian. For most of July, Moldovan authorities have received repeated warnings of bomb threats, of which all have been false alarms so far. While Moldova has been an internationally recognized independent country since it broke away from the former Soviet Union in 1991, separatists in Transnistria have waged a campaign for its own independence. The narrow region along much of the Moldovan-Ukrainian border has a significant ethnic Russian population.
