Global growth outlook lowered about 7 times since Liberals took power: Morneau
OTTAWA — Facing dismal economic data at home, Canada’s finance minister is pointing out that the global growth outlook has been downgraded about seven times since the federal Liberals took office last year.
Speaking in Sudbury, Ont., on Tuesday, Bill Morneau made his first public comments since Statistics Canada released grim numbers last week about the country’s labour force and its international trade performance.
The federal agency said Canada lost 31,200 jobs in July, while its trade deficit with the world swelled to a record level of $3.6 billion in June.
The Canadian economy also contracted 0.6 per cent in May — the country’s worst one-month performance since the depths of the Great Recession seven years ago.