Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more., according to Statistics Canada, following a 0.2 per cent decline in June. The manufacturing sector shrank by 1.5 per cent, its largest drop since April 2021. Economists had been predicting a slight increase of 0.1 per cent.
A growing number of forecasts predict that oil prices will reach US$100 per barrel this fall – a prospect that will complicate life for both consumers and central bankers trying to fight inflation. There has been a 35-per-cent run-up in the price of U.S. West Texas Intermediate crude since June, following moves by Saudi Arabia and Russia to cut production, and concerns over declines in U.S. crude oil inventories. But the current price spike looks less menacing than what’s come before.
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