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Press release from CNW Group

CIBC named most accurate forecaster of Canadian and U.S. economies

Wednesday, December 12, 2012

CIBC named most accurate forecaster of Canadian and U.S. economies13:59 EST Wednesday, December 12, 2012TORONTO, Dec. 12, 2012 /CNW/ - Bloomberg Markets has named CIBC's Chief Economist Avery Shenfeld as the top forecaster of the Canadian economy over the last two years.No other bank economist ranked among Bloomberg's Top 3 forecasters of the Canadian economy for the two-year period ended on Sept. 30.Meanwhile, MarketWatch has selected CIBC as the most accurate forecaster on U.S. economic indicators for the month of November.  CIBC also won the monthly award in August."These awards illustrate the strength and depth our economics team and why they are among the most sought-after experts by our clients," says Richard Nesbitt, Senior Executive Vice-President, CIBC.  "We applaud Avery Shenfeld and CIBC Economists Emanuella Enenajor and Andrew Grantham who contribute to the Canadian and U.S. forecasts that are the subject of these awards. Also making key contributions to our team's top notch economics coverage are Deputy Chief Economist Benjamin Tal and Senior Economists Peter Buchanan and Warren Lovely."CIBC's wholesale banking business provides a range of integrated credit and capital markets products, investment banking, and merchant banking to clients in key financial markets in North America and around the world. We provide innovative capital solutions and advisory expertise across a wide range of industries as well as top-ranked research for our corporate, government and institutional clients.SOURCE: CIBC World MarketsFor further information: Tom Wallis, Communications and Public Affairs at 416-980-4048, tom.wallis@cibc.ca