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Canada’s economic growth projected to be about 1% in the first half of 2024
Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.
With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.
Steady projected growth for first half of 2024
Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?
Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.
Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.
Growth in second half of 2024 expected
Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.
Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.
Canada’s economic growth mirrors iGaming’s rise
When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.
This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.
This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.
This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.
Future economic outlook for Canada in line with global expectations
When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.
Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.
The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.
Canada set for further growth in 2024
Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.
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Providence voters pass ballot initiative that could lead to divestment of city funds from Israel
(JTA) — Voters in Providence, Rhode Island, have approved a ballot measure that could result in the city divesting public funds from Israel, according to local media, in a major victory for the Israel boycott movement.
In a major victory for the Israel boycott movement, voters in Providence, Rhode Island, have approved a ballot measure that could result in the city divesting public funds from Israel, according to local media.
With 81 of 82 polling locations partially reported, the Rhode Island Board of Elections tallied 75% voting to approve the measure versus 25% rejecting. Both the Rhode Island Current and the Boston Globe report the measure was approved.
“We are overjoyed that the city of Providence has voted — by more than a 3 to 1 margin — to divest our collective dollars from support for genocide and ethnic cleansing,” Lex Rofeberg, who runs the alternative Jewish engagement network Judaism Unbound and was an organizer with the Providence divestment initiative, told JTA. “This historic moment can serve as an example for other cities around the country hoping to align their investments with their values.”
The ordinance calls for the capital city to refrain from investing in “foreign countries conducting ethnic cleansing, apartheid, illegal military occupation, or genocide.” Though the ballot language does not mention Israel by name, it was heavily supported by local pro-Palestinian groups and opposed by some Jewish and pro-Israel groups.
A representative for the Jewish Alliance of Greater Rhode Island previously told the Jewish Telegraphic Agency that the group would explore legal options to challenge the ballot measure in the event that it passed.
The vote makes Providence the largest municipality yet to vote in favor of some form of Israel divestment, following the lead of Somerville, Massachusetts, whose voters approved a nonbinding divestment measure last year. Providence is home to an estimated 15,000 Jews, or around 7% of its population. Progressive Jewish groups, including the local chapter of Jewish Voice for Peace, were among the ballot measure’s advocates.
The city’s mayor, Brett Smiley, a pro-Israel Democrat who converted to Judaism while in office, lost his primary to a democratic socialist, an early indicator of which way the divestment vote would go.
Activist initiatives to challenge U.S. financial aid to Israel have picked up steam in the years since the Oct. 7, 2023 Hamas attacks and ensuing Gaza war. On the morning of Election Day, President Donald Trump, who described aid to Israel as a political liability, announced the U.S. would end nearly $4 billion in annual military aid to Israel by the end of the year.
The post Providence voters pass ballot initiative that could lead to divestment of city funds from Israel appeared first on The Forward.
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Republican Lawler concedes to Democrat Conley in fierce battle for Jewish vote in NYC suburbs
(JTA) — Republican congressman Mike Lawler has conceded to Democratic challenger Cait Conley, a former national security official, after competing fiercely for Jewish voters in the lower Hudson Valley of New York.
Lawler has been a staunchly pro-Israel member since joining Congress in 2023, and was endorsed by the Republican Jewish Coalition and the pro-Israel lobbying group AIPAC.
Conley was endorsed by the pro-Israel group Democratic Majority for Israel, and has said she supports Israel while opposing the Benjamin Netanyahu government.
Lawler, who is Catholic, has deep ties to the district’s large Orthodox Jewish population, and touted their support recently when asked about the neck-and-neck polling.
Both Lawler and Conley have tried tying their opponent to polarizing figures in their respective parties. Lawler has asserted that Conley, a moderate, will not separate herself from the progressive wing of the Democratic Party and particularly New York City Mayor Zohran Mamdani, who has a lower favorability rating outside the city. Conley denounced Mamdani’s statement on the three-year anniversary of the Oct. 7, 2023 attack after Lawler challenged her to do so during a debate.
Conley, meanwhile, has tied Lawler to President Donald Trump, accusing him of being a rubber stamp for Trump’s legislative priorities.
The post Republican Lawler concedes to Democrat Conley in fierce battle for Jewish vote in NYC suburbs appeared first on The Forward.
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In early LA mayoral results, Karen Bass holds slim lead over Nithya Raman, who sparred with DSA on Israel
Early returns in the Los Angeles mayoral election showed incumbent Karen Bass with a slim lead over Councilmember Nithya Raman, whose comments on Israel became a flashpoint in the race.
The first batch of results — totaling about 500,000 votes — showed Bass leading Raman, 50.8% to 49.2%.
The final outcome may not be known until Wednesday or later, a common occurrence in tight California races due to the preponderance of mail-in ballots. Nearly 90% of California voters did so by mail in the June primary.
But if the primary results are any indication, Bass’ lead may evaporate as more votes are counted.
In the June 2 open primary — a system in which the top two vote-getters from any party advance to a runoff — Raman trailed a Republican, Spencer Pratt, by eight points for second place behind Bass. She won the ensuing batches of mail-in ballots, but did not pass Pratt until June 7. She ultimately surpassed him by more than four percentage points.
Raman, a member of the Democratic Socialists of America, has clashed with the organization — and frustrated many of her Jewish constituents — while trying to strike a balance on Israel. She has called the war in Gaza a genocide, but declined to adopt the Boycott, Divestment and Sanctions platform — a stance that led the DSA to consider expelling her.
Bass, a mainstream Democrat who served six terms in Congress before running for mayor in 2022, entered the race as a historically unpopular incumbent, largely thanks to her response to the 2025 Los Angeles wildfires. Raman endorsed Bass prior to declaring her own candidacy on the last day to enter the race, a move Bass has characterized as a personal betrayal.
The polls swung back and forth in the weeks leading up to the election. Bass, who won most labor endorsements, was leading until September, when one poll sponsored by the Los Angeles Times showed Raman ahead by 11 points with a third of voters still undecided. A follow-up poll by the Times last week showed the two in a dead heat.
Unlike many other DSA candidates up for election across the country on Tuesday, Raman, an urban policy wonk who immigrated to the U.S. from India when she was 6, never made Israel a focal point of her campaign. Instead, she focused more on housing, homelessness and budget policy.
But her membership in the DSA, an interview she granted Hasan Piker during the primary and the genocide comments dogged her anyway, especially among Jewish Angelenos.
Raman, after publicly condemning the DSA’s anti-Israel statements after Oct. 7, sponsored a resolution for a ceasefire and return of hostages in March 2024, disappointing mainstream Jewish groups who called the motion one-sided. Then, during the primary, Raman told Piker she believed the Gaza war was a genocide and that Israel was an apartheid state. She also said she would not seek the endorsement of pro-Israel Democratic party groups as she had in 2024.
Her record on Israel seemed likely to come up when Raman participated in the candidate forum for Jewish voters Sept. 29. But Raman struggled to get through answers about the DSA, Piker and especially genocide and BDS — which she called a “legitimate form of peaceful protest” — leading to loud audience groans. During Bass’ turn on stage, the mayor said she did not support BDS and did not believe the war in Gaza was a genocide.
Mail-in voters historically skew to the left, and the primary vote may offer a preview of the margin Raman might need.
In that election, about 58% of the total votes were tallied election night, when Bass led Raman 36.5% to 21%. Raman got the biggest share of the ensuing ballot batches, beating Bass by about five percentage points.
The post In early LA mayoral results, Karen Bass holds slim lead over Nithya Raman, who sparred with DSA on Israel appeared first on The Forward.

