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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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All 25 Jewish Lawmakers in US House Sign Statement on ‘Grotesque’ Antisemitic Bondi Beach Shooting

Rabbi Levi Wolff lights a menorah at Bondi Pavilion to honor the victims of a shooting during a Jewish holiday celebration at Bondi Beach, in Sydney, Australia, Dec. 15, 2025. Photo: REUTERS/Hollie Adams

Every Jewish member of the US House of Representatives on Monday signed a bipartisan statement condemning the prior day’s antisemitic mass shooting at Bondi Beach in Sydney, Australia, decrying the “grotesque” act of mass murder.

“On a night meant for celebration, Jewish families in Australia, gathering in joy and peace on the first night of Hanukkah, were grotesquely targeted with hate and murderous intent. Sadly, this attack does not come as a surprise to the Jewish community of Sydney who have been raising a clarion call for local and national authorities to take concrete steps against a rising tide of antisemitism,” read the statement co-signed by the 25 lawmakers.

“We stand in solidarity with the Australian Jewish community and together extend our condolences to the family and friends of the people murdered and are praying for the complete recovery of the dozens wounded, and the entire Jewish community feeling besieged,” the statement continued.

The signatories of the letter were members of both main political parties: Reps. Brad Sherman (D-CA), Becca Balint (D-VT), Jake Auchincloss (D-MA), Suzanne Bonamici (D-OR), Steve Cohen (D-TN), Randy Fine (R-FL), Lois Frankel (D-FL), Laura Friedman (D-CA), Craig Goldman (R-TX), Daniel Goldman (D-NY), Josh Gottheimer (D-NJ), Sara Jacobs (D-CA), David Kustoff (R-TN), Greg Landsman (D-OH), Mike Levin (D-CA), Seth Magaziner (D-RI), Max Miller (R-OH), Jared Moskowitz (D-FL), Jerrold Nadler (D-NY), Jamie Raskin (D-MD), Jan Schakowsky (D-IL), Brad Schneider (D-IL), Kim Schrier (D-WA), Eugene Vindman (D-VA), and Debbie Wasserman Schultz (D-FL).

The lawmakers said the attack underscored the global resurgence of antisemitism and warned that hatred of Jews, if left unchallenged, inevitably leads to violence. Referencing the symbolism of the Jewish holiday of Hanukkah, which began on Sunday night, the statement emphasized that light would ultimately overcome darkness and pledged continued efforts to confront antisemitism wherever it appears.

The attack, which is suspected to have been carried out by a Muslim father-and-son duo from Pakistan, targeted Jewish families which gathered to mark the first night of Hanukkah. The murder spree left 15 people dead, including a 10-year-old child, and more than 40 others wounded. Australian authorities described the incident as a hate-driven assault aimed squarely at the Jewish community, as Jewish institutions across the US and the world were placed on heightened alert.

Monday’s statement, a rare show of bipartisan unity, was led by senior lawmakers including Sherman, along with Democrats and Republicans who stressed that defending Jewish life is not a partisan issue. The statement called on political leaders worldwide to take concrete action to protect Jewish communities and to reject efforts to excuse or normalize antisemitic rhetoric under any guise.

“Antisemitism is a cancer that eats at the core of society, whether in Australia, the United States, or anywhere it is allowed to take root and grow. We join leaders around the globe in condemning this evil act and in calling for justice, peace, and unwavering support for those affected. We also call on all leaders to do better standing up to antisemitism, bigotry, and hate. We must also do better in our work for a world where everyone can celebrate their faith and traditions free from discrimination and fear,” the statement read.

“Jews around the world will continue to gather this week to celebrate Hanukkah and its story of religious freedom and defiant optimism,” the statement continued. “As we light the menorah each night and remember the miracle of the festival of lights, let us proclaim that light is stronger than darkness, right is stronger than might, and justice is stronger than tyranny. Wishing all Jewish communities and the world around us strength and peace.”

Israeli Prime Minister Benjamin Netanyahu condemned the attack as an act of antisemitic terrorism and reiterated that assaults on Jews abroad are inseparable from the broader campaign of hatred against the Jewish people and the Jewish state. Netanyahu also chided Australian leadership, pointing to a letter he sent the government which warned that their recognition of a non-existent Palestinian state could encourage more violence.

Australia Prime Minister Anthony Albanese defended his government’s decision to recognize “Palestine,” saying, “overwhelmingly, most of the world recognizes a two-state solution as being the way forward in the Middle East.”

Critics have argued that a two-state solution should be reached through negotiations between Israelis and Palestinians rather than preemptive unilateral declarations by other capitals.

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Dutch Police Arrest 22 After Anti-Israel Protests, Vandalism at Amsterdam Venue During IDF Cantor Performance

Anti-Israel protesters clash with police outside Amsterdam’s Concertgebouw, breaking through barricades and setting off smoke bombs during a demonstration against a performance by the IDF’s chief cantor. Photo: Screenshot

Dutch police arrested 22 people on Sunday after anti-Israel protests outside an Amsterdam concert hall erupted into violent clashes during a performance by the Israel Defense Forces’ official cantor.

Around 200 demonstrators gathered outside Amsterdam’s famed Concertgebouw to protest a performance by Shai Abramson, the IDF’s chief cantor, who has previously performed at several Israeli military ceremonies.

Even though Abramson was originally scheduled to lead the Concertgebouw’s annual public Hanukkah concert, the venue canceled his appearance last month following backlash over his ties to the Israeli military. 

After the announcement sparked international outrage, the Concertgebouw offered Abramson the chance to perform at two private concerts later that evening while skipping the main Sunday afternoon concert.

Widely circulated on social media, footage showed anti-Israel protesters chanting antisemitic slogans, breaking through barricades, and carrying signs with inverted red triangles — a symbol used in Hamas propaganda to mark targets.

“October 7, 2023: The day indigenous people rose up against their occupier,” one of the signs read, referring to the Hamas-led invasion of and massacre across southern Israel on Oct. 7, 2023.

As riot police worked to contain the crowd and maintain public order, protesters set off smoke bombs, leaving one officer with minor injuries, Dutch News reported.  

Local law enforcement arrested 22 people for offenses including violating assembly rules, possessing fireworks, and resisting arrest.

On Monday, the anti-Israel group Pal Action NL claimed responsibility for vandalism at the concert hall, sharing photos on its Instagram account showing red paint splattered across the walls.

“Last night, after Het Concertgebouw allowed IOF war criminal and official cantor of the Zionist settler colony, Shai Abramson, to perform, some activists decided to pay a little visit,” the group wrote in its post.

“Het Concertgebouw now has Palestinian blood on their hands, and it will take a LONG time to wash away …” the statement read. “A warning to all other venues and institutions in the country considering platforming Zionists, don’t. Or we will be visiting.”

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Antisemitism Threatens US National Security, Analysts Warn

From left to right: Hudson Institute senior fellow Michael Scott Doran, Hudson Ravenel B. Curry III Distinguished Fellow in Strategy and Statesmanship Walter Russell Mead, and Hudson trustees chair Sarah Stern. Photo: Screenshot.

Geopolitical competition, the rise of artificial intelligence, and declining faith in the capitalist economic model and liberal democracy are contributing to the resurgence of antisemitism taking place across the Western world, some of the leading foreign policy experts in the US said on Friday during a conference held by the Hudson Institute in Washington, DC.

Titled, “Antisemitism as a National Security Threat,” the eight-hour event examined antisemitism as a challenge to the execution of a sound American foreign policy and a tactical advantage to “revisionist powers” such as China and Russia which aim to overturn the international order and supplant the US as the world’s leading superpower. Moreover, they stressed that the vanguard of the “new” antisemitism – Candace Owens, Tucker Carlson, and Nick Fuentes – are not new characters on the world stage but rather the latest iteration of a social type which has always emerged in periods of disruptive change to convert public uncertainty about the future into domestic upheaval.

One area that antisemites have identified as a stronghold is the rising field of artificial intelligence, Jude Rosenblatt, founder of an AI consulting firm, told attendees while appearing via webcam.

“The AI, unfortunately is quite antisemitic itself. We’ve done a lot of research about this. I can explain it in greater detail if you want, but it turns out that AI is very antisemitic and then when it undergoes safety training, it actually becomes more antisemitic. And it is very concerning that underneath the hood, AI is deeply antisemitic,” Rosenblatt explained. “But if it remains deeply antisemitic underneath the hood, then it’s going to, as it becomes more deeply incorporated into everything, people are going to increasingly lose agency to something which is antisemitic and is going to undermine all of our interests.”

The Algemeiner has reported extensively in recent weeks on how neo-Nazis, jihadi terrorists, and others have weaponized AI both to target the Jewish people and, more broadly, expand their propaganda, recruitment, and operations.

The conference also touched on the rise of the so-called “new right.” From the advent of the Cold War until the election of Donald Trump, the American right or “conservative movement” was associated with a “strong” and “active” American foreign policy consensus rooted in a pragmatic assessment of the national interest even as it often embraced a missionary project of spreading liberal democracy and capitalism around the world.

Recently, however, right-wing social media pundits such as Tucker Carlson and Nick Fuentes have argued for America’s retreating from the world stage by citing, implicitly and explicitly, antisemitic conspiracies which claim that Jews incite wars and social upheaval for profit and the pursuit of power. In doing so, they have uttered torrid encomiums to the leaders and governments of China, Russia, Venezuela, and Iran.

The lies and historical revisionism the new right promotes is poisoning public debate and creating a climate in which American leaders are incentivized to make poor strategic decisions for the sake of achieving short term political goals, according to experts.

“It started off with anti-Ukraine in the populist world,” Hudson Institute senior fellow and director of the Keystone Defense Initiative, Rebecca Heinrichs, said, speaking during a panel titled “The Grand Chessboard.”

“It’s antisemitism for the purpose of undermining Americans’ confidence in ourselves and in our post World War II role in the world. That is very dangerous because we can’t come to consensus on anything else we need from a grand strategy perspective if American scapegoat our problems to the Jews and if they believe that Israel is no longer an ally but it never was, and in fact that we were on the wrong side of World War II, which is now the narrative being pushed,” she continued.

The conference ended with a keynote address delivered by renowned scholar and foreign policy analyst Walter Russell Mead. An alumnus of Yale University, Mead’s most recent work includes his critically acclaimed examination of the US-Israel relationship titled, The Arc of the Covenant: The United States, Israel, and the Fate of the Jewish People.

Mead discussed antisemitism across the ages as one consequence of utopian social engineering and its perennial quest to construct societies unalloyed by outsiders and nonbelievers.

“When you want to have a comprehensive political order that embodies all good things and lays out rules for how everyone should behave and think and so on, you sooner or later run up against those stubborn Jews who will not bend to the need of Baal, who will not sacrifice to the emperor or whatever the element of the coercive element of your utopia is,” Mead said. “Today in the Islamist Middle East, we see the same thing, a utopia. If everyone would just accept Islam and live in the light of these eternal truths, everything would be fine. There would be justice, there would be prosperity, there would be freedom. But there are Jews.”

He continued, “The European union’s vision of a world of peace in international order keeps getting disturbed by that traumatizing presence of a Jewish state that follows the logic of its own survival rather than the idealistic hopes and dreams that we see in Brussels.”

Mead concluded by arguing that the American tradition offers not only a guide for building a society which, while being imperfect, is inclusive to all but also an antidote to antisemitism.

“Other people reject the American idea of a free society in favor of some kind of a blood and soil nationalism. Again, you’re just not going to get there because it’s kind of obvious that we’re sort of diverse. We’ve got a bunch of people from whose blood and whose soil is it going to be there?” he said.

Follow Dion J. Pierre @DionJPierre.

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