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Economists at Noranda and CME win accuracy awards

Toronto, ON -- May 8, 2002 Watson Wyatt Worldwide has presented two Canadian economists with awards for accuracy...


Toronto, ON — May 8, 2002 Watson Wyatt Worldwide has presented two Canadian economists with awards for accuracy in economic forecasting. The Crystal Awards are presented each year following the results of Watson Wyatt’s Survey of Economic Expectations, which this year involved 42 leading investment consultants and money managers from across Canada.

Jayson Myers, vice-president and chief economist for Canadian Manufacturers and Exporters (CME) won for the category “Short-term Prediction,” which is for a one-year time frame.

Tom Phelps, vice-president and chief economist, Noranda Inc., won for the category “Medium-to Long term Prediction,” which covers the most recent five-year time frame.

The winners were selected by comparing the individually submitted forecasts of survey participants to various actual market indicators and economic results as published by Statistics Canada for the years in review.

Watson Wyatt’s Canadian Survey of Economic Expectations 2002 provides forecasts for 24 indicators, based on the results of a questionnaire sent to top economists and financial market forecasters from major financial institutions, investment firms and other organizations in December 2001.

The results provide an overall consensus opinion on the economic outlook for Canada over various time frames, namely short-term (2002), medium-term (2003-2006), and long-term (2007-2016). The survey results were released earlier this year.