Economists Avery Shenfeld and Andrew Grantham earn highest accuracy
rating of any monthly forecast in last 10 years
TORONTO, Oct. 19, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM) MarketWatch has named CIBC as the top forecaster of the US economy in September
with the highest accuracy rating of any monthly forecast in the last 10
Compared against 47 other forecasters, CIBC's Chief Economist Avery
Shenfeld and Economist Andrew Grantham had the most accurate forecasts
on U.S. non-farm payrolls, the consumer price index, retail sales,
durable-goods orders, the trade deficit and industrial production. In
addition, their forecast for new-home sales was the second most
accurate, according to MarketWatch.
This is the second time this year that CIBC has topped MarketWatch's monthly forecasting rankings.
"This recognition underscores the strength of CIBC's economists and the
valuable insight they provide to clients in navigating global markets,"
says Harry Culham, Senior Executive Vice-President and Group Head, CIBC
Capital Markets. "We're proud of our Economics team and congratulate
Avery and Andrew on this recognition."
CIBC is a leading Canadian-based global financial institution with
nearly 11 million personal banking and business clients and three
major business units - Retail and Business Banking, Wealth Management
and Capital Markets. CIBC Capital Markets business provides integrated
credit and capital markets products, investment banking advisory
services and top-ranked research to corporate, government and
institutional clients around the world. Visit www.cibcwm.com for CIBC Capital Markets news releases and information. You can find
other news releases and information about CIBC in our Media Centre on
our corporate website at www.cibc.com.
For further information:
Tom Wallis, Communications & Public Affairs at 416-980-4048 or firstname.lastname@example.org