Key takeaways:
- This week’s jobs, GDP totals allow strength for seasonal cheer amidst hand-wringing above the world’s obstacles.
- A passenger wearing personal protecting equipment comes at the international terminal of the Sydney Airport in Australia on Monday, among concerns of the latest omicron variant of COVID-19.
Omicron fears all over the world:
Titles that make the heart heat may be good for the news business, but they aren’t so furious for economic balance.
Amidst a fireworks show of telling stories that involve signs of a new and possibly worse COVID-19 variant of worry, Friday’s stock market tumble, grieving inflation updates and a fresh round of supply chain difficulties begun by B.C.’s flooding, data out this week on the Canadian economy is required to be reassuringly mild.
And after a weekend of hand-wringing, there are rising signs — at least in economic circles — that notwithstanding a name that seems like a Marvel Comics villain, the omicron variant is simply more of the very.
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Commodities and oil rebound
“Investors are betting that the impact of the omicron COVID-19 variant will be less profound than initially feared,” the Wall Street Journal proclaimed Monday, as commodities and oil rebounded from “their largest one-day percentage decline since April 2020.” Source – cbc.ca
Of course, there continue lots to study about the newest coronavirus variant and its effect on the Canadian economy, but a distinct stream of business news out this week — including the nation’s increase rate, unemployment numbers and the state of Canada’s banks — is assumed to be reassuring.
While Canadian inflation wavering near five per cent continues a problem, new data for gross domestic product, out next this morning, is not anticipated to show the kind of economic growth that would be sent inflation rising.
Exporters suffer logistical horrors as CN yet to rebuild service to Vancouver port – British Columbia Sun
[…] Omicron heaps on economic tremors, Canadian outlook flickers mild optimism […]