Canada's inflation under 3%

Market Overview
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Year To Date Performances:

1. Canada’s inflation is at 2.8%. This is the first time since March 2021 that it has been under 3%. The Bank of Canada is confident it can hit its target of 2% by the end of the year.

2. China's highly anticipated economic rebound has fallen woefully short of expectations, disappointing investors and analysts again. The latest data reveals a meagre 0.8% expansion in GDP during the second quarter, primarily attributed to lacklustre retail sales and a notable decline in the private sector. As a result, the annual economic growth rate has languished at 6.3%, a significant deviation from the earlier forecast of 7.3%. This underwhelming performance can be attributed to various factors, including deflationary pressures, an alarming youth unemployment rate exceeding 20%, and, most notably, a substantial drop in property investment. These trends paint a sobering picture of the Chinese economy's struggle to regain momentum.

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4. Headlines

   1. The probability of a recession in the US is now down to 54% from 61% last month. (This measures the possibility of 2 consecutive quarters of contraction within the next four quarters).

   2. United Airlines has announced a settlement with its pilots which includes a 40% increase in pay.

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