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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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FIFA COO Says World Cup ‘Too Big’ to Be Postponed by Israel-Iran War

Soccer Football – FIFA Club World Cup – Group D – Esperance de Tunis v Chelsea – Lincoln Financial Field, Philadelphia, Pennsylvania, US – June 24, 2025, General view of the FIFA logo before the match. Photo: REUTERS/Lee Smith

FIFA Chief Operating Officer Heimo Schirgi said the 2026 World Cup is “too big” to postpone and will proceed as planned despite the ​ongoing conflict in the Middle East.

Schirgi made the comments while speaking on Monday outside construction of the International Broadcast Center, which is located inside the Kay Bailey Hutchison Convention Center and will serve as a hub for international coverage of the World Cup. Schirgi was asked about Iran as it remains unclear if the country will participate in World Cup, after the US and Israel launched joint airstrikes against the Islamic Republic that led to the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and several other high-ranking Iranian officials. Iran has retaliated with strikes against Israel and civilian areas across the Middle East.

“At some stage, we will have a ​resolution, and the World Cup will go on, obviously,” Schirgi replied, according to ⁠NBC 5 in Dallas. “The World Cup is too big, and ​we hope that everyone can participate that has qualified.”

FIFA Secretary General Mattias Grafstrom previously said the organization is closely monitoring the situation in the Middle East ahead of the World Cup in June. Schirgi added that FIFA has been in contact with Iran’s soccer ​federation, but did not provide details ⁠about what was discussed, according to Reuters.

The FIFA ​World Cup will take place across cities in the US, Mexico, and Canada from June 11 to July 19. Iran qualified for the tournament through its participation in the ‌Asian ⁠Football Conference. It is set to compete in Group G at the World Cup and is scheduled to face New Zealand on June 15 and Belgium on June 21, both in Los Angeles, before going head-to-head against Egypt on June 26 in Seattle. Soccer fans from Iran are already barred from entering the United States for the World Cup as part of a travel ban that the Trump administration announced in June.

The 2026 World Cup will have 48 nations competing, making it the largest in history.
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Heaviest Day of Strikes Yet on Iran Despite Market Bets That War Will End Soon

Smoke rises following an explosion, amid the US-Israeli conflict with Iran, in Tehran, Iran, March 7, 2026. Picture taken with a mobile phone. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

The United States and Israel pounded Iran on Tuesday with what the Pentagon and Iranians on the ground said were the most intense airstrikes of the war, despite global markets betting that President Donald Trump will seek to end the conflict soon.

Raising the stakes for the global economy, Iran‘s Revolutionary Guards said they would block oil shipments from the Gulf unless US and Israeli attacks cease.

“Today will be yet again, our most intense day of strikes inside Iran: the most fighters, the most bombers, the most strikes, intelligence more refined and better than ever,” US Defense Secretary Pete Hegseth told a Pentagon briefing.

Yet with Trump having described the war on Monday as “very complete, pretty much,” investors appeared convinced he would end it soon – before the disruption to global energy supplies worsened the global economy.

An historic surge in crude oil prices on Monday was mostly reversed within a day. Asian and European share prices staged a partial recovery from earlier precipitous falls, and Wall Street bounced to around its levels of late February, before the war.

A source familiar with Israel’s war plans told Reuters the Israeli military wanted to inflict as much damage as possible before the window for further strikes closes, under the assumption Trump could end the war at any time.

Israel’s foreign minister, Gideon Saar, said his country was not planning for an endless war and was consulting with Washington about when to stop it.

Iran has refused to bow to Trump’s demand that it let the United States choose its new leadership, naming hardliner Mojtaba Khamenei as supreme leader to replace his father, who was killed on the war‘s first day.

But occasionally contradictory remarks from Trump at a Monday press conference appeared to reassure markets he would stop his war before provoking an economic crisis like those that followed the Middle East oil shocks of the 1970s. He said the US had already inflicted serious damage and predicted the conflict would end before the four weeks he initially set out.

Trump has not defined what victory would look like, but on Monday did not repeat declarations that Iran must let him choose its leader.

Several congressional aides have said they expect the White House to soon request as much as $50 billion in additional funding for the war.

The US used $5.6 billion in munitions in the first two days of strikes against Iran, a source familiar with the information said on Tuesday.

“There is a big question mark over how long people can put up with the costs of this conflict,” said Clionadh Raleigh, CEO of US crisis-monitoring group Armed Conflict Location & Event Data, or ACLED.

Several senior Iranian officials voiced defiance on Tuesday.

“Certainly, we are not seeking a ceasefire; we believe the aggressor must be struck in the mouth so that they learn a lesson and never again think of attacking dear Iran,” Iran‘s parliament speaker, Mohammad Baqer Qalibaf, posted on X.

Foreign Minister Abbas Araqchi told PBS that Tehran was unlikely to resume negotiations with the US.

The war has effectively halted shipments through the Strait of Hormuz, where a fifth of global oil and liquefied natural gas normally passes along Iran‘s coast. Some of the world’s biggest producers have run out of storage and cut back output.

After Iran chose its hardline new leader, oil prices briefly surged to nearly $120 a barrel on Monday. But by 1500 GMT on Tuesday, Brent crude had settled back down below $90.

Trump said on Monday that if Iran blocks oil through the strait, “we will hit them so hard that it will not be possible for them or anybody else helping them to ever recover that section of the world,” he said.

But a spokesperson for the Revolutionary Guards said Tehran would not allow “one liter” of Middle Eastern oil to reach the US or its allies while US and Israeli attacks continue.

“We are the ones who will determine the end of the war,” the spokesperson said.

Iran is fighting back but is not tougher than the US military expected before the war, the top US general told reporters on Tuesday, at the same briefing where Hegseth promised the Pentagon’s most intense day of strikes in the 10-day-old conflict.

Asked if Iran was a stronger adversary than he expected when the US military drew up its war plans, General Dan Caine, chairman of the Joint Chiefs of Staff, told reporters the fight was not harder than expected.

“I think they’re fighting, and I respect that, but I don’t think they are more formidable than what we thought,” Caine told the Pentagon briefing.

Ending the war quickly would appear to preclude toppling Iran‘s leadership, which held large-scale rallies on Monday in support of the new supreme leader.

Many Iranians want change and some openly celebrated the death of the elder Khamenei, weeks after his security forces killed thousands of people to put down anti-government protests. But there has been little sign of protest during the war.

At least 1,270 people have been killed since the US and Israeli airstrikes began on Feb. 28, according to Iranian state media reports.

Scores have also been killed in Israeli attacks on Lebanon to root out the Iran-backed terrorist group Hezbollah, which has fired into Israel in solidarity with Iran. Iran said four of its diplomats were killed in a strike on a hotel in Lebanon on Sunday.

Iranian strikes on Israel have killed 12 people. Iran has struck US military bases and diplomatic missions in Arab Gulf states but also hit hotels, closed airports and damaged oil infrastructure.

Australia will deploy a military surveillance aircraft to the Middle East and send missiles to the United Arab Emirates but will not put troops on the ground in Iran, Prime Minister Anthony Albanese said on Tuesday.

Australia‘s military support would help the Gulf countries defend themselves against unprovoked attacks from Iran, Albanese said, stressing Australia was “not a protagonist.”

“Our involvement is purely defensive,” Albanese told reporters. “And it’s in defense of Australians who are in the region as well as in defense of our friends in the United Arab Emirates.”

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New Poll Shows Complex, Nuanced Views Among Democratic Voters on Israel

Pro-Israel rally in Times Square, New York City, US, Oct. 8, 2023. Photo: REUTERS/Jeenah Moon

A new survey analysis of Democratic voters suggests that despite increasingly vocal criticism of Israel in some activist circles, especially among the party’s youth, the broader Democratic electorate remains largely supportive of the US–Israel relationship.

The data, released by the Manhattan Institute, examines the ideological positioning of the Democratic Party and its views on a range of cultural and political issues, including attitudes toward Israel. Its findings suggest that while the party is experiencing a generational shift in how voters discuss the Israeli-Palestinian conflict, the center of the Democratic electorate continues to support Israel’s security and the longstanding alliance between Washington and Jerusalem.

According to the findings, relatively small shares of Democratic voters occupy the most firmly pro-Israel or anti-Israel positions. Only 13 percent of respondents say Israel is fundamentally a “colonial apartheid state” that should be dismantled and bears responsibility for violence tied to the conflict since its founding. At the other end of the spectrum, just 16 percent describe Israel as a legitimate nation confronting serious security threats and view its actions as largely defensive, even if imperfect.

One of the report’s central conclusions is that the largest bloc of Democratic voters identifies as politically moderate. According to the analysis, moderates outnumber both progressive liberals and a smaller activist faction often associated with the party’s most ideological rhetoric. When asked about the direction of the Democratic Party, 38 percent of respondents said the party should move toward the political center, compared with 22 percent who said it should move further left and 26 percent who said it is already in the right place.

The results suggest that the median Democratic voter holds a more pragmatic political outlook than the tone of many internal party debates might indicate. The largest portion of Democratic voters falls somewhere between those two poles. Nearly half of respondents, 49 percent, say Israel has a right to exist but believe the Israeli government’s treatment of Palestinians, both historically and during the current war, deserves strong criticism. Another 23 percent say they are uncertain about how to characterize the conflict.

The analysis also highlights a sharp generational divide. Younger Democrats are substantially more likely than older voters to adopt strongly critical views of Israel. Among Democrats between the ages of 18 and 29, 26 percent say that Israel should be dismantled as a colonial apartheid state and that it “bears responsibility for any and all violence since its founding.” That is four times more than Democrats over the age of 65 and three times more than those between the ages of 50 and 64.

Meanwhile, only 9 percent of Democrats in the youngest cohort say Israel is a legitimate country confronting serious security threats and acting largely in self-defense.

These new findings carry implications for the party’s debate over Israel. The survey analysis suggests that most Democratic voters still view Israel as an important US ally and support its right to defend itself, even as many also express concerns about the humanitarian consequences of conflict in Gaza and the broader Israeli-Palestinian dispute. In other words, the report suggests that the typical Democratic voter has a position that combines support for Israel’s security with calls for diplomacy and humanitarian restraint.

Despite those internal disagreements, the analysis concludes that the most strident anti-Israel rhetoric in American political discourse originates from a relatively small but highly visible activist faction within the Democratic coalition. This group, which often plays a prominent role in campus activism and social media campaigns, is more likely to support measures such as boycotts or sanctions targeting Israel and to frame the Israeli-Palestinian conflict in stark ideological terms. According to the report, however, this faction represents a minority of Democratic voters and does not reflect the views of the party’s broader electorate.

Taken together, the findings point to a Democratic electorate that is more supportive of Israel than some political narratives suggest. While younger activists and progressive voices have become increasingly prominent in shaping the party’s internal debate, the survey analysis indicates that moderates, many of whom maintain traditional views of the US–Israel relationship, still make up the largest segment of Democratic voters.

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