While global economic growth is expected to be a little higher than anticipated last spring, a weaker near-term outlook for the U.S. economy has curbed the near-term prospects for Canadian exports and growth. The Bank's outlook for growth in the Canadian economy has been revised down slightly from the outlook in last April's Monetary Policy Report and the July Update of that report.
Although the SCF is focused on families, not businesses, it does collect substantial information on the closely held businesses families own. The survey clearly shows a high degree of interdependence of personal and business finances for many families with businesses.