Canada’s economic outlook has deteriorated since April, says PBO
The economy will grow at a slower rate than predicted, according to the PBO’s report released November 10, with forecasts based on policy measures that were announced in April in the Conservative government’s Budget 2015. The PBO’s adjusted outlook does not take into account any measures or policy changes from the new Liberal government’s platform.
“The economic and fiscal outlook has deteriorated since the Parliamentary Budget Officer’s April 2015 report to the House of Commons Standing Committee on Finance,” the report states. “Although the Canadian economy is expected to rebound from the contraction in the first half of 2015, the recovery is expected to be restrained by weaker global activity and lower commodity prices.
“Real gross domestic product (GDP) is expected to remain below its potential through 2019.”
Real GDP growth is expected to be 1.1% in 2015, downgraded from the 2.0% forecast in the previous budget, due to “weaker business investment and sluggish export performance.” Growth in 2016 is expected to be 2.0%, down from 2.1%. Between 2016 and 2020, nominal GDP will be lower than in the previous projections for each year.
..more...
https://www.biv.com/article/2015/11/canadas-economic-outlook-has-deteriorated-april-sa/
The economy will grow at a slower rate than predicted, according to the PBO’s report released November 10, with forecasts based on policy measures that were announced in April in the Conservative government’s Budget 2015. The PBO’s adjusted outlook does not take into account any measures or policy changes from the new Liberal government’s platform.
“The economic and fiscal outlook has deteriorated since the Parliamentary Budget Officer’s April 2015 report to the House of Commons Standing Committee on Finance,” the report states. “Although the Canadian economy is expected to rebound from the contraction in the first half of 2015, the recovery is expected to be restrained by weaker global activity and lower commodity prices.
“Real gross domestic product (GDP) is expected to remain below its potential through 2019.”
Real GDP growth is expected to be 1.1% in 2015, downgraded from the 2.0% forecast in the previous budget, due to “weaker business investment and sluggish export performance.” Growth in 2016 is expected to be 2.0%, down from 2.1%. Between 2016 and 2020, nominal GDP will be lower than in the previous projections for each year.
..more...
https://www.biv.com/article/2015/11/canadas-economic-outlook-has-deteriorated-april-sa/
