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Last Week’s Highlights
Japan’s Economy Contracts in the Q2
The Japanese economy contracted in the three months ending June in 2020, but at a lesser pace. Japan’s GDP fell 7.8% during the period on a quarterly basis.
It was, however, the worst quarterly decline on record since 1980. Following the release of the report, Japan’s economy minister said that his government would take all possible measures to put the economy back on track.
During the period, exports fell by 18.5% while private consumption was down 8.2% from the previous quarter. On an annualized basis, Japan’s GDP is down 27.8% during the period ending June 2020.
Canada Wholesale Trade Rises 18.5% in June
The wholesale trade transaction in Canada beat market expectations and rose sharply back to pre-pandemic levels. The gains were driven by monthly sales increase in the automotive sector.
Official data showed that Canada’s wholesale trade rose 18.5% on a seasonally adjusted basis in June. Economi...
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