Finance Department says Morneau to deliver fall economic update Nov. 1

OTTAWA — Finance Minister Bill Morneau is to deliver his fall economic update to the House of Commons on Nov. 1.

These updates typically contain little more than fresh economic and fiscal projections, although in the past they have included budgetary measures.

This time around, there have already been indication that this fall’s update could be meatier than usual as the government looks for ways to kick-start Canada’s stalled economy.

Morneau’s update comes near the end of a year that has seen economic growth stuck in a rut.

The Bank of Canada has cut its growth forecast for this year to 1.1 per cent from 1.3 per cent, citing a coming slowdown in housing and weaker prospects for exports.

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The bank has also reduced its growth prediction for next year as the economy overall continues to feel the lingering impact of a collapse in oil prices.

The Canadian Press