Porter halved his fourth quarter growth estimate to 3.0 per cent from a year earlier. That drags down his full-year growth forecast to 4.8 per cent, from a previous forecast of 5.0 per cent, because of the floods and global supply chain disruptions.
Economists are clear the flooding will have a material impact on near-term gross domestic product forecasts, but there is considerable uncertainty about how fast growth could bounce back.Article content
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