Global Markets: Canada’s GDP increases in July

By MarketsFarm

WINNIPEG, Sept. 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Statistics Canada reported on Wednesday that the country’s gross domestic product (GDP) increased by three per cent in July. The report stated there were gains in the hotel/restaurant, agriculture, utilities, finance and insurance sectors. As well there were increases in the real estate and leasing plus arts-entertainment-recreation sectors. The overall rise brought Canada’s GDP to within six per cent of its pre-pandemic level. Preliminary numbers for August suggested a smaller increase of one per cent.

– The United States Customs and Border Protection announced on Wednesday it will issue a “withhold release order” that will ban the import of palm oil products made by FGV Holdings in Malaysia. The move comes after a story by Reuters alleged there has been the use of forced labour and other human rights abuses in the production of palm oil in Malaysia and Indonesia.

– Rife with interruptions, wild allegations and personal attacks, the first of three televised U.S. presidential debates was chaotic. “It was awful. It was hardly a debate. What we saw was [U.S. President Donald] Trump being Trump, which was out of control most of the time,” Ohio State University Political Science Professor Paul Beck told Al Jazeera of Tuesday evening’s verbal melee. As well, former Vice-President Joe Biden, who asked Trump “Will you shut up, man?” also referred to the president as a clown, a liar and a racist. Analysts commented Trump’s near constant verbal barrage was to undermine any points Biden hoped to have scored.

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