Relative to the Bank of Canada outlook, we basically see a larger adjustment in terms of the slowdown in household spending. We also see a steeper decline in residential construction activity. We have about a 10% decline in that activity from its peak level. What offsets that and brings our overall outlooks into line is, as you identified, on the export side. We actually have a stronger export performance and stronger business investment too, but we basically just have a difference in view of the rebalancing in the economy.
On May 1st, 2017. See this statement in context.