22:18:53 EDT Wed 17 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,207,809,724
Close 2015-08-28 C$ 59.60
Market Cap C$ 71,985,459,550
Recent Sedar Documents

Globe says TD, rivals see economists shaving forecasts

2015-08-31 08:11 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Monday edition that Statistics Canada (SC) is expected to confirm this week that Canada slipped into recession earlier this year. The Globe's Bill Curry writes that a new survey of 16 economists conducted this month by Consensus Economics (CE) shows the economy is only expected to grow by 1.1 per cent this year, which is down from the 2-per-cent growth Ottawa expected when it released its April budget. CE concludes the information available so far indicates the first half of the year began with a technical recession. SC will release its gross domestic product figures Tuesday for June, closing out the second quarter. The release is sure to have an immediate impact on the federal election, where economic management is shaping up as a key point of debate between party leaders. It is also likely to impact the discussion over Ottawa's bottom line as both the Tories and NDP are promising surpluses while the Liberals say they would fund major infrastructure spending through short-term deficits. Economic growth has a direct impact on expectations for federal revenue and a slowing economy could place the Conservative government's projected surplus of $1.4-billion at risk.

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